[SMM MHP Daily Review] July 11: Indonesian MHP prices slightly decline

Published: Jul 11, 2025 15:45

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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 $12,487/mt Ni.

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As of now, the MHP coefficient (relative to SMM battery-grade nickel sulphate index) stands at 83.5%-84%, with FOB prices for Indonesian MHP at $12,487/mt Ni.

Supply side, recent market liquidity for MHP remains relatively tight, with some traders reporting exhaustion of available volumes. Affected by policy changes in DRC, the quoted cobalt coefficients in certain traders' MHP offers have risen. Demand side, some nickel salt smelters conducted inquiries this week, though overall procurement sentiment remained relatively weak. Combining these factors, the market's supply-demand balance remains tight, and prices are expected to remain stable in the short term.

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