[SMM MHP Daily Review] July 10: Indonesian MHP prices decline 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 the FOB price of Indonesian MHP at $12,489/mt Ni.

Supply side, the MHP market has seen relatively tight liquidity recently, with some traders running out of available inventory. Affected by policy changes in the DRC, the quoted coefficient for cobalt content in certain traders' MHP has risen. Demand side, some nickel salt smelters placed inquiries this week, though overall purchasing sentiment remains relatively weak. Balancing supply-demand dynamics, the market is expected to maintain stable operation in the short term.

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