Recently, it has been affected by the rebound in futures prices and the MHP coefficient fluctuating at highs. As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 84%-85%, and the FOB price of Indonesian MHP is $12,674 per mt (Ni contained).

On April 30, the SMM battery-grade nickel sulphate index price was 27,821 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,820-28,340 yuan/mt. The average price remained stable compared to yesterday.

【Minutes of Morning Meeting on April 30】Affected by the production cuts in Indonesia's MHP and high-grade nickel matte projects, the supply of raw materials is tight, driving the MHP coefficient to continue fluctuating at highs, with insufficient downward momentum. Supply side, some nickel salt smelters have limited quantities available for external sale in the remaining days of May, hence their quotations remain firm. Some nickel salt smelters have expectations for production cuts due to incomplete raw material stocking.

Recently, the market has been influenced by the rebound in futures prices and the MHP coefficient fluctuating at highs. As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 84%-85%, and the FOB price of Indonesian MHP is $12,649 per mt (Ni contained).

On April 29, the SMM index price for battery-grade nickel sulphate was 27,818 yuan/mt, with a quotation range of 27,820-28,340 yuan/mt for battery-grade nickel sulphate. The average price remained stable compared to yesterday.

[SMM Daily Review: Market sentiment was sluggish ahead of the holiday, and the price of high-grade NPI may be in the doldrums in the short term] On April 29, the average price of SMM 8-12% high-grade NPI was 967.5 yuan/mtu (ex-factory, tax included), unchanged from the previous working day...