SMM Upgrades Pricing System with New Payable Indicators for Copper, Zinc, Gold
The Shanghai Metals Market (SMM) has upgraded its pricing system by adding separate payable indicators for copper, zinc, and gold contained in lead concentrates.
This move comes after years of industry demand for greater transparency in associated metal prices. SMM's payable indicator for silver in lead concentrates has been quoted for many years, but the new additions will provide comprehensive pricing references for mines, smelters, and traders.
The payable indicators for copper, zinc, and gold will be updated weekly, with thresholds set for each metal. For example, the payable indicator for gold (AU) in lead concentrates requires a minimum of 1 g/dmt, while zinc (ZN) must be between 5% to 12%.
This upgrade aims to improve the comprehensive pricing system for lead concentrates and provide more accurate by-product pricing references. It is expected to increase transparency in the market and benefit all parties involved in the industry chain.