[SMM MHP Daily Review] June 19: Indonesian MHP Prices Slightly Decline

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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 $12,494/mt Ni.

Supply side, with the resumption of production at Indonesian MHP projects this month, overall MHP production in June has rebounded. Demand side, this week, some nickel salt smelters have inquired about orders, but most buyers' acceptance of MHP prices remains limited. Overall purchasing sentiment has warmed up slightly but remains at a low level. Taking everything into account, considering the cost pressure faced by downstream enterprises, which makes it difficult for them to accept excessively high MHP prices, SMM expects that there may be some downside room for MHP prices.

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