[SMM MHP Daily Review] July 4: MHP prices in Indonesia rise slightly

Published: Jul 4, 2025 16:22

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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 $12,508/mt Ni.

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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 Indonesian MHP FOB prices at $12,508/mt Ni.

Supply side analysis indicates that MHP market liquidity has recently tightened, with some traders reporting exhaustion of available stock for sale. Affected by policy adjustments in the DRC, certain traders have raised their quotation coefficients for cobalt content in MHP. Demand side observations show that while some nickel salt smelters initiated inquiries this week, overall procurement sentiment remains relatively weak. With the market's supply-demand balance leaning toward tightness, short-term stability is anticipated.

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