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SMM

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SMM Index Prices

Base Metals

Product		Index	Change	Date
SMMI		3,555	+8(0.23%)	Dec 18, 2025
SMMI.Al		1,522.24	-1.4(-0.09%)	Dec 18, 2025
SMMI.Cu		5,541.6	+5.71(0.10%)	Dec 18, 2025
SMMI.Ni		1,475.95	+16.46(1.13%)	Dec 18, 2025
SMMI.Pb		3,539.68	-5.29(-0.15%)	Dec 18, 2025
SMMI.Sn		7,178.38	+134.05(1.90%)	Dec 18, 2025
SMMI.Zn		2,891.25	+13.75(0.48%)	Dec 18, 2025

Precious

Product		Index	Change	Date
SMMI.Ag		4,373.69	+47.81(1.11%)	Dec 18, 2025
SMMI.Au		6,233.22	+12.15(0.20%)	Dec 18, 2025
SMMI.PM		5,511.1	+26.27(0.48%)	Dec 18, 2025
SMMI.Pd		4,619.57	+206.52(4.68%)	Dec 18, 2025
SMMI.Pt		1,702.05	+44.52(2.69%)	Dec 18, 2025

Ferrous Metals

Product	Price Range	Avg.	Change	Date
62% Fe Fines (Qingdao Port): IOPI62-0.62 USD/mt	101.17 ~ 101.17	101.17	+0.42(0.42%)	Dec 17, 2025
SMMI. Coke-A<13，S<0.7，CSR>60，MT<0-National USD/mt	213.61 ~ 213.61	213.61	-0.15(-0.07%)	Dec 18, 2025
Rebar-HRB400/HRB400E-Φ18-22-National USD/mt	396.17 ~ 396.17	396.17	+0.32(0.08%)	Dec 17, 2025
SMMI.HRC-Q235B-5.75*1500mm-National USD/mt	410.86 ~ 410.86	410.86	+2.32(0.57%)	Dec 18, 2025

Iron Ore Port Stock Differentials To Qingdao

Product	Price Range	Avg.	Change	Date
Jingtang USD/mt	-1.25 ~ -1.25	-1.25	0(0.05%)	Dec 17, 2025
Beilun USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Nantong USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Dalian USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Tianjin USD/mt	-1.25 ~ -1.25	-1.25	0(0.05%)	Dec 17, 2025
Lanshan USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Lanqiao USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Rizhao USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Caofeidian USD/mt	-1 ~ -1	-1	0(0.05%)	Dec 17, 2025
Jiangyin USD/mt	-2.51 ~ -2.51	-2.51	0(0.05%)	Dec 17, 2025
Shekou USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Lianyungang USD/mt	-0.63 ~ -0.63	-0.63	0(0.05%)	Dec 17, 2025
Fangcheng USD/mt	-3.13 ~ -3.13	-3.13	0(0.05%)	Dec 17, 2025
Qingdao USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Majishan USD/mt	0 ~ 0	0	0(0.00%)	Dec 17, 2025
Bayuquan USD/mt	-5.64 ~ -5.64	-5.64	0(0.05%)	Dec 17, 2025
Huanghua USD/mt	0 ~ 0	0	0(0.00%)	Oct 08, 2024

Iron Ore Port Stock Normalization Differentials

Product	Price Range	Avg.	Change	Date
1% Fe differential (low grade) USD/mt	2.38 ~ 2.38	2.38	0(0.05%)	Dec 17, 2025
1% Silica differential (low grade) USD/mt	1.13 ~ 1.13	1.13	+0.25(28.63%)	Dec 17, 2025
High Fe Grade 0.09%P0.115% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
High Fe Grade 0.115%P0.15% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
High Fe Grade Al 2.25-4% USD/mt	9.03 ~ 9.03	9.03	-1(-9.96%)	Dec 17, 2025
High Fe Grade Al 2.25% USD/mt	2.26 ~ 2.26	2.26	0(0.05%)	Dec 17, 2025
High Fe Grade Si 4-6.5% USD/mt	3.76 ~ 3.76	3.76	-0.62(-14.24%)	Dec 17, 2025
High Fe Grade Si 6.5-9% USD/mt	0.7 ~ 0.7	0.7	-0.01(-1.63%)	Nov 05, 2025
High Fe Grade Si 4% USD/mt	1 ~ 1	1	0(0.05%)	Dec 17, 2025
High Grade Fe 60-63% USD/mt	1.13 ~ 1.13	1.13	0(0.05%)	Dec 17, 2025
High Grade Fe 63-64% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
High Grade Fe 64-65% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
High Grade Fe 65-65.5% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
Low Fe Grade 0.09P0.1% USD/mt	0.63 ~ 0.63	0.63	0(0.05%)	Dec 17, 2025
Low Fe Grade Al 2.25-4% USD/mt	3.51 ~ 3.51	3.51	0(0.05%)	Dec 17, 2025
Low Fe Grade Al 2.25% USD/mt	2.51 ~ 2.51	2.51	0(0.05%)	Dec 17, 2025

Iron Ore Seaborne Normalization Differentials

Product	Price Range	Avg.	Change	Date
High Fe Grade 0.09%P0.115% USD/dmt	1.25 ~ 1.25	1.25	+0.25(25.00%)	Dec 17, 2025
High Fe Grade 0.115%P0.15% USD/dmt	1.25 ~ 1.25	1.25	0(0.00%)	Dec 17, 2025
High Fe Grade Al 2.25-4% USD/dmt	5.5 ~ 5.5	5.5	0(0.00%)	Dec 17, 2025
High Fe Grade Al 2.25% USD/dmt	5.25 ~ 5.25	5.25	-0.25(-4.55%)	Dec 17, 2025
High Fe Grade Si 4-6.5% USD/dmt	2.75 ~ 2.75	2.75	-0.25(-8.33%)	Dec 17, 2025
High Fe Grade Si 4% USD/dmt	2.75 ~ 2.75	2.75	0(0.00%)	Dec 17, 2025
High Grade Fe 60-63% USD/dmt	2.5 ~ 2.5	2.5	-0.25(-9.09%)	Dec 17, 2025
High Grade Fe 63-64% USD/dmt	2.75 ~ 2.75	2.75	0(0.00%)	Dec 17, 2025
High Grade Fe 64-65% USD/dmt	2.75 ~ 2.75	2.75	0(0.00%)	Dec 17, 2025
High Grade Fe 65-65.5% USD/dmt	2.75 ~ 2.75	2.75	0(0.00%)	Dec 17, 2025

MMi Port Stock Index

Product	Price Range	Avg.	Change	Date
62.5% Fe Lump (Qingdao Port): IOPLI62 USD/mt	108.21 ~ 108.21	108.21	+0.22(0.20%)	Dec 12, 2025
62.5% Fe Lump (Qingdao Port, CFR equiv) USD/dmt	109.1 ~ 109.1	109.1	+0.06(0.06%)	Dec 12, 2025
58% Fe Fines (Qingdao Port): IOPI58 USD/mt	88.51 ~ 88.51	88.51	+0.42(0.48%)	Dec 17, 2025
58% Fe Fines (Qingdao Port, CFR Equiv.) USD/dmt	93.41 ~ 93.41	93.41	+0.49(0.53%)	Dec 17, 2025
62% Fe Fines (Qingdao Port): IOPI62 USD/mt	101.17 ~ 101.17	101.17	+0.42(0.42%)	Dec 17, 2025
62% Fe Fines (Qingdao Port, CFR Equiv.) USD/dmt	106.18 ~ 106.18	106.18	+0.45(0.43%)	Dec 17, 2025
65% Fe Fines (Qingdao Port): IOPI65 USD/mt	115.22 ~ 115.22	115.22	+0.43(0.38%)	Dec 17, 2025
65% Fe Fines (Qingdao Port, CFR Equiv.) USD/dmt	121.41 ~ 121.41	121.41	+0.47(0.39%)	Dec 17, 2025

MMi Seaborne Index

Product	Price Range	Avg.	Change	Date
58% Fe Fines (CFR Qingdao Port): IOSI58 USD/dmt	~		-	Invalid Date
62% Fe Fines (CFR Qingdao Port): IOSI62 USD/dmt	106.9 ~ 106.9	106.9	+1.03(0.97%)	Dec 17, 2025
65% Fe Fines (CFR Qingdao Port): IOSI65 USD/dmt	120.15 ~ 120.15	120.15	+1.19(1.00%)	Dec 17, 2025

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