Description
The Shanghai Metal Market Price Index (SMM) is compiled and published by Shanghai Metals Market (SMM). It serves as a crucial benchmark for tracking the price movements of various metals traded in the Shanghai market. The index is widely used by industry participants, analysts, and policymakers to gauge the supply and demand dynamics, price trends, and overall health of the metal market. A rising index indicates increasing metal prices, suggesting strong demand or supply constraints, while a falling index indicates decreasing prices, suggesting weaker demand or oversupply.
The SMM Price Index is calculated based on the weighted average prices of a basket of key metals, including but not limited to copper, aluminum, zinc, and nickel, traded on the Shanghai market. The weights assigned to each metal are determined based on their market significance and trading volume.
The index is updated daily, providing timely insights into the latest price trends and market conditions.