The transaction market is sluggish, and nickel salt prices are declining.

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 $12,653/mt Ni.

On June 5, the SMM battery-grade nickel sulphate index price was 27,610 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,580-28,050 yuan/mt. The average price weakened compared to yesterday.

Overnight, LME copper opened at $9,640/mt, touching a low of $9,603.5/mt shortly after the opening bell.

[6.5 Morning Meeting Minutes] LME nickel prices saw a slight correction today, with immediate cost support strengthening. Demand side, despite signs of improvement in nickel salt demand MoM in June, overall demand remains in a sluggish phase. Affected by the presence of some raw material inventory and weak order demand, during this week's traditional procurement period, the inquiry and transaction activity of precursor enterprises for nickel salt were both low. Supply side, the order signing situation for nickel salt producers in June was poor this week, with some large nickel salt enterprises planning to carry out shutdown maintenance work in June.

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 $12,681/mt Ni.

[SMM Daily Review: Economic Advantage of High-grade NPI Weakens, Short-term High-grade NPI Prices May Face Downward Pressure] On June 4, the average price of SMM 8-12% high-grade NPI was 956 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu from the previous working day...

On June 4, the SMM battery-grade nickel sulphate index price was 27,700 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,700-28,130 yuan/mt, and the average price remained stable WoW.