The nickel salt market is sluggish, with prices remaining stable.

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 $12,649/mt Ni.

On June 12, the SMM index price for battery-grade nickel sulphate was 27,585 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,580-28,050 yuan/mt, and the average price remained stable WoW.

[Minutes of Morning Meeting on June 12] Affected by the inventory of some raw materials and weak order demand, during the traditional procurement period this week, the inquiry and transaction activity of precursor enterprises for nickel salts were low. Supply side, the order signing situation for nickel salt producers in June was poor this week, and some large nickel salt enterprises planned to carry out shutdown maintenance work in June. Given the weak demand coupled with falling costs, some nickel salt producers have shown signs of loosening their quotes.

On June 11, the SMM battery-grade nickel sulphate index price was 27,586 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,580-28,050 yuan/mt, and the average price remained stable WoW.

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 $12,666/mt Ni.

[Summary of Morning Meeting on June 11] Supply side, domestically, nickel ore prices in the Philippines remained relatively firm, with smelters continuing to incur losses and production running at a low level. In Indonesia, the current price of saprolite ore for domestic trade continued to rise, pushing up the cost line for smelters again. The weak price of finished products led to ongoing losses for smelters. However, against the backdrop of sluggish demand for high-grade nickel matte, Indonesia still primarily produced high-grade NPI, resulting in a slight increase in production.