Announcement on New Enamelled Wire Export Processing Fee (FOB) Quotation

To better serve industrial clients and align more closely with market conditions, SMM is introducing a new export processing fee (FOB) quotation for enamelled wire, which will be officially launched on December 5, 2025.

1. SMM Enamelled Wire Export Processing Fee (FOB) Price Assessment Methodology
1.1 SMM General Principles for Price Assessment Methodology
Shanghai Metals Market (SMM) is a fully independent third-party service provider that does not participate in any actual transactions. Instead, it maintains close communication with buyers or sellers as a market observer or organizer and provides related services to the market. This document specifies the formulation standards for SMM's enamelled wire export processing fee (FOB). The purpose of establishing this standard is to create a transparent and verifiable SMM price formation mechanism.

2. Formation of SMM Enamelled Wire Export Processing Fee (FOB) Quotation
2.1 Significance of the Quotation
In recent years, China's enamelled wire export market has experienced continuously rising high growth, with exports maintaining rapid growth for consecutive years. The total national enamelled wire export volume reached 118,361.93 mt in 2024, with a YoY growth rate as high as 29.57%. Strong growth momentum continued in 2025, with the coverage of export destinations continuing to expand and demand in Southeast Asia and emerging markets experiencing explosive growth. While the export scale rapidly expands, the industry faces multiple challenges, including copper price fluctuations, adjustments in overseas trade policies, and a lack of international pricing references. Enterprises urgently need authoritative and transparent export price benchmarks to guide trade decisions. In response to the market's pressing need for enamelled wire export pricing references, SMM will officially launch the enamelled wire export processing fee (FOB) starting December 5, 2025. The quotation will be published on the last working day of each week, and SMM price members will be able to simultaneously access historical prices at that time.
2.2 SMM Enamelled Wire Export Processing Fee (FOB) Quotation Methodology
2.2.1 Price Generation Region
China
2.2.2 Price Definition
Self pick-up price at main Chinese ports such as Ningbo Port; the processing fee is based on LME CSP, with a quotation period (QP) of M+0 (where M is the shipment month).
2.2.3 Product Specifications and Standards
Enamelled wire production and inspection strictly adhere to the national standard GB/T 6109-2008 "Enamelled Round Winding Wires". SMM will concurrently revise related content to ensure standard applicability. Specific parameters are model EI/AIW/200, specification 1.5 mm, and packaging method PT-25 type spool (with pallet).
2.2.4 Payment Terms
Telegraphic transfer (T/T), the mainstream international trade settlement method, or other standardized payment terms, following the "payment before delivery" rule. Specific settlement details and performance requirements are subject to the formal contract signed by both parties.
2.2.5 Price Terms and Delivery Requirements
Valuation method: Free On Board (FOB)
Unit of account: $/mt
Delivery time: As per contract agreement
2.2.6 Quotation Format and Time
The quoted processing fee is presented as a range, indicating the lowest and highest prices, in $/mt. For example: The processing fee for EI/AIW/200 is $1,200-1,400/mt, with an average price of $1,300/mt. The quotation frequency is weekly. SMM will publish the price on the website front desk by 11:50 AM on the last trading day of each week.
2.2.7 VAT Rate
This processing fee quotation excludes 13% VAT.
2.2.8 Price Collection Method
According to the price collection confirmation agreement, SMM price analysts will regularly collect price information from designated contacts at copper strip producers via phone, QQ, WeChat, fax, and email. This information includes concluded transaction prices and the enterprise's expected most probable pending transaction prices, etc. All instant messaging content, email communication, and records of any face-to-face communication will be archived; details of telephone communications will be recorded and entered into the database. SMM analysts must comply with the Compliance System when reporting to their supervisors any communication from market participants that is coerced or threatened, or any induced offers attempting to influence the assessment. Once the price is published, SMM will not make corrections or adjustments on the same day.
2.2.9 Data Standardization
Although SMM provides standardized definitions for our prices, diversity exists in market transactions. The price of each transaction is influenced by numerous factors, including order size, product brand, delivery time, and payment terms. SMM will comprehensively consider market quotes, bids, and transaction information, aligning them with our standards. Welcome to more relevant enterprises in the industry chain to participate and support SMM in better serving related enterprises in the secondary copper industry chain.
For inquiries, please contact:
Shanghai Metals Market Copper Research Team, Zhou Yan
Contact: 021-5166-6867