Hunan metal (Chenzhou) index (short for “Chenzhou index”) declared by People’s Bank of China Chenzhou Central Branch and Chenzhou Economy & Information Commission was successfully drawn up and passed the evaluation, approval, trial run and other processes.

It was learned from the industry sources that the release of the “Chenzhou index” would effectively improve the strategic position of Chenzhou non-ferrous metals , especially the small metal, which would step into a crucial step in enhancing its speaking right of Chenzhou non-ferrous metal products in domestic and international markets.

It was learned that Hunan metal (Chenzhou) index was constituted of three systems like “spot price system”, “price index system” “climate index” and 35 indexes including 9 species like tin, lead, zinc, wolfram, molybdenum, stibium, bismuth, silver and gold. Index support units and bidding units are Zhuzhou Smelter Group Co., Ltd., Hunan Chenzhou Mining Group Co., Ltd., Hunan Yuteng Nonferrous Metal Co., Ltd., Jingui Silver Industry Co., Ltd., and other 20 enterprises with more than 45 metal species being quoted.

There were four differences among “Chenzhou index” and similar indexes drawn up in Shanghai and other places, which were said by the Vice President of People’s Bank of China, Chenzhou Branch.

The first was the original index, the base data of “Chenzhou index” collected from 9 cities of Hunan province directly; the second was strategic minor metal index. Currently the most influential Shanghai nonferrous metal price index only covers copper, aluminum, nickel and other 6 kinds of metal but lacks small metal with respect to the index, so that “Chenzhou index” plays an important role in improving China's nonferrous metals index system construction; the third was upstream of industry chain index. “Chenzhou index” was mainly taken the samples from upstream enterprises, which can correctly get the variation information from them; the forth was multilevel index which not only contained the usual price index reflecting the industrial cycle and climate index, but also fully and accurately reflect the operation of Hunan 's nonferrous metals industry.

Chenzhou is the home of non-ferrous metal, which takes a very important place in minor metal exploit and smelt. “Chenzhou index” caused widespread concern in the industry.

The vice manager of Hunan Yuteng Nonferrous Metal Co., Ltd.,- Cao Yong remarked that Hunan metal (Chenzhou) index was the wind vane for market price, which help to guide the improvement of enterprises and non-ferrous industry especially minor metal industry.

Qizhen, the sales manager of Desheng Futures, said: “It is significant for the development of Hunan even China non-ferrous metal industry after Hunan metal (Chenzhou) index was drawn up successfully. Scientific judge of local governments can be reached and price reference can be provided for different non-ferrous and trade by this index; industry climate can be easier learned by enterprise and investors to confirm the marketing strategy from the climate index as well.”