On June 19, the SMM battery-grade nickel sulphate index price was 27,363 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,370-27,800 yuan/mt. The average price fell slightly compared to yesterday.

[Morning Meeting Minutes on June 19] This week, nickel prices returned to fundamentals and declined slightly, while the production cost of nickel salts weakened. Demand side, some precursor plants began to inquire about next month's orders this week, but overall demand remained sluggish, and their acceptance of nickel salt prices was low. In terms of supply, some nickel salt smelters had high in-plant inventory and faced shipping pressure, so the nickel salt quotes also loosened.

The SMM Lithium Battery Raw Materials Conference 2025 will be held in Xiamen on October 20-21, 2025, focusing on the critical challenges and opportunities in the supply chain of key battery raw materials such as nickel, cobalt, and lithium amid the global energy transition. The conference aims to analyze international policy shifts, supply-demand dynamics, and pricing mechanisms from multiple perspectives, fostering a more stable, transparent, and efficient industry chain. Key Topics Include: 1.Global Market Trends: Examining the impact of geopolitics, trade policies, and supply-demand imbalances on nickel, cobalt, and lithium pricing and supply chains. 2.SMM Pricing System: Interpreting the authoritative price formation mechanism and providing future trend forecasts. 3.Industry Chain Collaboration: Facilitating long-term contract negotiations and one-on-one business matchmaking to enhance upstream-downstream cooperation. 4.Technological Innovation: Exploring cutting-edge advancements in battery materials to support corporate strategic planning. Highlights: 1.Full Industry Chain Participation: Gathering global stakeholders, including resource extraction, refining, R&D, and end-use manufacturers. 2.Authoritative Market Insights: SMM will release in-depth analysis and price benchmarks for nickel, cobalt, and lithium. 3.Efficient Networking: Structured business matchmaking to promote long-term supply chain partnerships. 4.This conference will deliver forward-looking insights, empowering enterprises to navigate resource flows and market transformations while advancing the sustainable development of the global new energy industry chain.

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 $12,526/mt Ni.

On June 18, the SMM battery-grade nickel sulphate index price was 27,402 yuan/mt, with a quotation range for battery-grade nickel sulphate of 27,400-27,830 yuan/mt. The average price fell slightly compared to yesterday.