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.

Overnight, LME copper opened at $9,566.5/mt, dipping to a low of $9,557.5/mt shortly after the opening bell.

[6.4 Morning Meeting Minutes] As major nickel ore mining regions, the supply situation in Sulawesi and Halmahera remained disrupted during the week due to frequent precipitation, which hindered the mining and transportation processes at some mines. In addition, the slow progress of RKAB approvals continued to affect supply. It is understood that the subsequent supplementary quota approval process for RKAB is expected to commence in June and July of H2. However, the market remains concerned about the speed of approval for the subsequent supplementary RKAB quotas. Recently, rumors have circulated in the market that a large number of RKAB quotas were approved in the past few weeks. However, after verification with the Indonesian Ministry of Energy and Mineral Resources (ESDM), it is likely that these rumors are untrue, and the supply of nickel ore remains tight.

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the non-ferrous metal market.

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 $12,664/mt Ni.

On June 3, the SMM battery-grade nickel sulphate index price was 27,702 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,700-28,130 yuan/mt. The average price remained stable WoW.