SMMI Wins Third Prize of 2008 National Scientific and Technical Progress Award of China General Chamber of Commerce

The Scientific and Technical Award of China General Chamber of Commerce, as the most authorized and comprehensive prize in China, is set up by the Ministry ofNational Science and Technology of China.

The Shanghai Nonferrous Metals Price Index (SMMI), a joint effort of Shanghai Xinxie Information & Technology Co., Ltd. and Zhejiang Gongshang University, was officially launched on May 28th 2007. The benchmark SMMI is based on the Shanghai market, China’s largest nonferrous metals market, with www.smm.cn as a platform, as well as strong support from Shanghai Nonferrous Metals Industry Association and hundreds of key enterprises of the country in this industry. A group of academic and professional experts has made high evaluation of SMMI, and SMMI is proved to be well-performed since its debut with scientific method and high application value. At present, SMMI has been published on www.cnni.net.cn and www.cif.mofcom.gov.cn simultaneously.

The benchmark SMMI has further consolidated Shanghai Nonferrous Metals Market’s leading position in China, and improved its influence in international markets as well; SMMI serves as an important barometer in China’s non-ferrous metals market; SMMI helps domestic enterprises engaged in non-ferrous metals make production plans, develop marketing strategies, as well as gain a say in the international trade negotiations; SMMI provides the government with an effective approach to monitoring and managing domestic nonferrous metals markets.