[SMM MHP Daily Review] July 16: Indonesian MHP Prices Decline

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As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 83.5%-84%, and the FOB price for Indonesian MHP is $12,368/mt Ni.

Supply-side analysis indicates tightening MHP market liquidity recently, with some traders reporting exhaustion of available inventory. Affected by policy changes in the DRC, cobalt component pricing coefficients in certain traders' MHP offers have risen. Some producers have already begun signing Q4 MHP orders. Demand-side developments show weaker procurement sentiment this week as some nickel salt smelters conducted price inquiries. Overall, tight supply-demand conditions suggest prices will remain stable in the short term.

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