SMM is an acronym for Shanghai Metals Market, and LME is an acronym for London Metals Exchange.

SMM (Click to SMM) founded in 1999 as a Chinese metals market research company, Shanghai Metals Market have been publishing the daily assessment spot prices (SMM Price) for over 100 base metals, precious metals, minor metals, recycled metals, metal powders, compounds, semis, alloys, and rare earths for over 10 years. SMM’s Shanghai Nonferrous Metals Price Index (SMMI) accurately tracks the overall situation in China’s nonferrous metals market.

LME (Click to LME) is the futures exchange with the world’s largest market in options and futures contracts on base and other metals, By definition it is a major London trading facility formed in 1877 that currently trades futures and option contracts for six major metals: aluminum, copper, lead, nickel, tin, and zinc.

It is important for large Aluminum users watching trends in market pricing and potentially locking up futures contracts to secure firm pricing.

In the distribution market, aluminium extrusion pricing is based on money-of-the-day SMM average.

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