SMM Data: Battery-Grade Nickel Sulphate Price Drops by 350 Yuan/mt on July 1

According to SMM data, on July 1, the FOB prices of Indonesian MHP nickel, MHP cobalt, and high-grade nickel matte fell from the previous day by $199/mt Ni, $840/mt Co, and $155/mt Ni, respectively.

Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially released the benchmark mineral price (HMA) for the first half of July 2026. The HMA for this period is as follows: nickel price at US$17,593.33/tonne, down from US$18,642.33/tonne in the second half of June 2026, representing a decrease of US$1,049.00/tonne, or 5.63%. Meanwhile, the benchmark prices for other minerals are: cobalt at US$55,854.00/tonne, iron ore at US$1.51/tonne, and chromite ore at US$6.37/tonne. According to SMM's internal calculation model, based on simulations for pyrometallurgical ore (20% Fe, 1% Cr, 0.05% Co) and hydrometallurgical ore (45% Fe, 2% Cr, 0.10% Co), the benchmark nickel ore prices (HPM) for different grades have changed as follows: Ni 1.2%: US$47.40/wmt (down US$2.13) Ni 1.3%: US$51.86/wmt (down US$2.39) Ni 1.4%: US$56.58/wmt (down US$2.95) Ni 1.5%: US$61.49/wmt (down US$3.24) Ni 1.6%: US$66.64/wmt (down US$3.55)