[SMM MHP Daily Review] June 30: MHP prices in Indonesia rise slightly

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As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 83.5%-84%, with Indonesia's MHP FOB price at $12,442/mt Ni.

Supply-side analysis indicates June's overall MHP production has rebounded following production resumption at Indonesia's MHP projects. Additionally, impacted by the delayed DRC cobalt export ban, some traders have suspended quotations. Demand-side developments show limited buyer acceptance of MHP prices this week despite inquiries from certain nickel salt smelters, with overall procurement sentiment recovering slightly but remaining at a low level. In summary, DRC's cobalt policy changes may drive upward pressure on cobalt coefficients within MHP, while nickel coefficients face stabilization pressure and are expected to maintain steady operation in the short term.

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