[SMM MHP Daily Review] July 15: Nickel prices decline, MHP prices fall

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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 $12,384/mt Ni.

Supply-side analysis indicates tight market liquidity for MHP recently, with some traders reporting exhausted sellable volumes. Affected by policy changes in the DRC, the quoted cobalt coefficient in MHP from certain traders has risen. Some producers have begun quoting Q4 MHP prices. Demand-side observations show limited inquiry activities from nickel salt smelters this week, with overall procurement sentiment remaining subdued. With the market experiencing supply-demand tightness, prices are expected to remain stable in the short term.

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