What RMB per metric tonne means
RMB is the Chinese renminbi; CNY is its currency code. A metric tonne is 1,000 kilograms. Dividing a per-tonne quotation by 1,000 gives a per-kilogram raw-material reference, not the selling price of a finished part. An export quotation in another currency also needs an agreed exchange-rate basis.
Spot copper and processed materials
A spot quotation refers to a physical-market price under the source’s stated conditions. Chinese “No. 1 copper” is a domestic quotation category for refined copper, not a complete engineering specification or an automatic equivalent to an overseas material grade. Hard oxygen-free copper wire and enamelled wire are processed products: their prices should not be substituted for refined copper prices. Enamelled wire has an insulating coating; “hard” describes a material condition that must be confirmed for the application.
Reading Shanghai copper futures
SHFE means the Shanghai Futures Exchange. Copper futures represent contracts for a specified delivery month, rather than a finished-component quotation. In this reporting context, 2611 identifies November 2026 and 2612 identifies December 2026. Compare the same contract and the same price type; a last-traded price, a closing price and a settlement price can differ.
A practical comparison checklist
Before comparing suppliers, confirm the material grade, price date, tax treatment, quantity, delivery terms and quotation validity. Keep Chinese spot quotations and Shanghai futures in separately labelled series. Where a source does not disclose its comparison benchmark, do not interpret its reported rise or fall as the difference from the preceding article.