[SMM MHP Daily Review] July 9: MHP prices in Indonesia slightly decline

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As of now, the MHP coefficient (relative to SMM battery-grade nickel sulphate index) stands at 83.5%-84%, with Indonesian MHP FOB prices at $12,502/mt Ni.

Supply side, recent MHP market liquidity remains relatively tight, with some traders reporting complete exhaustion of available volumes. Affected by policy adjustments in the DRC, cobalt component quotation coefficients from certain traders have risen. Demand side, limited inquiries emerged from nickel salt smelters this week, with overall procurement sentiment remaining subdued. With market supply-demand dynamics leaning tight, prices are expected to stabilize in the short term.

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