Due to the flood disaster in Indonesia, the production and operation of the MHP project in the Morowali Industrial Park have been affected, resulting in a reduction in output. Based on preliminary assessments, the production cuts are expected to last for about a week, and the extent of the impact is yet to be confirmed. SMM will continue to monitor the situation. As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 82%-82.5%, and the FOB price of Indonesian MHP is $12,764/mt (Ni contained).