【SMM Flash Report】SMM April 22nd Report – At present, most Indonesian mines primarily sell nickel ore with a grade of approximately 1.5%, as lower-grade ore helps extend the operational life of the mine. Consequently, when mines hold either high-grade or low-grade ore, they typically blend it to achieve a medium-grade product or stockpile it in anticipation of a price rebound. While awaiting the implementation of the PNBP policy scheduled for this week, the mining companies remain in a wait-and-see mode. The current primary focus for Indonesian miners is to enhance the efficiency of infrastructure, production, and transportation costs, or to increase output and sales volume to offset any potential decrease in the HPM.