On Friday evening, LME copper opened at $9,628.5/mt, surging to a high of $9,700/mt in the early session, then fluctuating downward, hitting a low of $9,621.5/mt during the session, and experiencing a slight correction towards the end, ultimately closing at $9,660.5/mt, up 0.43%.

[Summary of Morning Meeting on June 23] Prices of Indonesia's local ore changed last week. In terms of premiums, the mainstream premiums for Indonesia's local laterite nickel ore remained at $26-28/wmt this week. Regarding benchmark prices, HMA prices stabilized with a slight decline in the second half of June, reaching $15,221/mt, down 1.19% MoM from the previous period. Overall, the prices of saprolite ore decreased this week. The SMM delivery-to-factory prices for Indonesia's local laterite nickel ore with 1.6% nickel content stood at $53.9-56.9/wmt, up $0.4/wmt WoW. For limonite ore prices, the SMM delivery-to-factory prices for Indonesia's local laterite nickel ore with 1.3% nickel content remained stable at $26-28/wmt, unchanged from last week.

The progress of the recall incident this week is as follows:

According to the latest market data, the average price of SMM 8-12% high-grade NPI this week was 925.5 yuan/mtu (ex-factory, tax included), down 16.8 yuan/mtu from last week. Since last week, the price of high-grade NPI has continued to show a weak trend.

This week, Indonesian HPM price for nickel ore dropped, however saprolite's premium remains high

Philippine mine offer prices rise, domestic enterprises' losses widen again. Indonesia's HPM continues to fall, with price changes in Indonesia this week.

As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) ranges from 83.5% to 84%, and the FOB price of Indonesian MHP is $12,442/mt Ni.

On June 20, the SMM battery-grade nickel sulphate index price was 27,193 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,200-27,600 yuan/mt. The average price fell slightly compared to yesterday.