Price Qutation


      Chinese  Metal Exchange Information  1998.6.4
          ShenZhen Non-ferrous Metal Exchange

Jun.4.1998                                    Yuan RMB/T,lots
---------------------------------------------------------------
Metal  Month  Open   High   Low   Close  Settle Turnover  O.I*
---------------------------------------------------------------
Cu    98.06  16150  16150  16100  16120  16120      92     952
      98.07  16430  16450  16340  16340  16390     182    1876
      98.08  16660  16680  16550  16550  16620     970    5668
      98.09  16950  16980  16760  16770  16850    3244    6630
      98.10  16950  17000  16900  16900  16930     348    1614
      98.11  16950  17280  16950  17280  17120      80       0
---------------------------------------------------------------
Al    98.06  13730  13730  13730  13730  13730      94     608
      98.07  13790  13790  13710  13730  13750      50     696
      98.08  13740  13740  13710  13740  13720     104     596
      98.09  13670  13680  13670  13680  13680      20      42
      98.10  13740  13740  13740  13740  13740      20       0
--------------------------------------------------------------
Note: O.I.= Open Interest


                ShangHai  Metal  Exchange
                                              
Jun.4.1998                                  Yuan RMB/T,tons
--------------------------------------------------------------------
Metal  Month   Open     Range       Close  Pre-Settle Turnover  O.I*
--------------------------------------------------------------------
Cu    98.06   16200   16200/16090   16100   16070      2300    29270  
      98.07   16330   16430/16300   16300   16300      3480    45070   
      98.08   16720   16720/16510   16510   16490     20790   136480
      98.09   16950   16950/16750   16750   16670     59860   169400
      98.10   17080   17080/16860   16860   16790     13860    51780
      98.11   16950   16980/16900   16940   16880       790     6090
      98.12                         17000   17040               1670
--------------------------------------------------------------------
Al    98.06                         13650   13610               1830
      98.07   13710   13740/13710   13740   13730      2200     5300
      98.08   13750   13750/13750   13750   13750       650     6840
      98.09                         13750   13750               2390 
-------------------------------------------------------------------
note: O.I.= Open Interes



     ChangJiang Nonferrous Metals Spot Market Information

 
May.27.1998-Jun.2.1998                            Yuan RMB/T,tons
-------------------------------------------------------------------
  Metal         Settlement         Metal       Settlement
-------------------------------------------------------------------
  Cu            16300/16550        Zn4          9600/9650   
  Al            13740/13780        Ni          53200/54500
  Pb             5100/5250         Sn          48500/50000
-----------------------------------------------------------------

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Non-ferrous Metals Ten Days Quotation from Producers (last ten days in May.,1998 unit: Yuan RMB/tons) Base metals Producer Quotation refined copper: Jiangxi Copper Company 17,250 Tongling Nonferrous Metals Company 16,600 refined nickel: Jinchuan Nonferroes Metals Company 52,000 Sichuan Copper-Nickel Company Ltd. 53,000 refined lead: Zhuzhou Smelter 5,200 Liuzhou Huaxi Company Ltd. - Guangdong Shaoguan lingnan Lead-Zinc Group Co. Ltd. 5,100 refined Zinc: Huludao North-East Nonferrous Metals Group Company 10,000 Guangdong Shaoguan lingnan Lead-Zinc Group Co. Ltd. 9,700 Zhuzhou Smelter 9,650 refined Tin: Limu Nonferrous Metals Company 49,500 Yunnan Tin Company 49,000

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Non-ferrous Metals Ten Days Quotation from Producers (last ten days in May. 1998 unit: Yuan RMB/tons) Minor Metals Producer Quotation antimony oxide: Xikuangshan Mining Bureau 22,000 refined bismuth: Yunnan Tin Company 73,500 Zhuzhou Smelter 75,000 bismuth concentrate: Yuebei Nonferrous Metals Company 41,000 refined cadmium: Shuikoushan Mining Bureau 11,500 Zhuzhou Smelter 10,000 Huludao Zinc Plant 10,500 cobalt: Jinchuan Nonferrous Metals Company 400,000 refined indium: Zhuzhou Smelter 2,600 Huludao Zinc Plant 2,600 magnesium: Mihe Magnesium Smelter 20,500 molybdenum concentrate: Sichuan Copper & Nickel Company - Jinduicheng Molybdenum Company 30,600 platinum: Jinchuan Nonferrous Metals Company 105,000 palladium: Jinchuan Nonferrous Metals Company 64,000 silicon metal: Mihe Magnesium Smelter 9,000 tungsten concentrate: Yuebei Nonferrous Metals Company(65%) 20,540 Yaogangxian Tungsten Mine 20,540 APT: Limu Nonferrous Metals Company 42,100

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