》Check SMM nickel quotes, data, and market analysis
As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) ranges from 83.5% to 84%, with the FOB price of Indonesian MHP at $12,442/mt Ni.
Supply side, this month, with the resumption of production at Indonesian MHP projects, overall MHP production in June has rebounded. Demand side, this week, some nickel salt smelters have inquired about orders, but most buyers' acceptance of MHP prices remains limited. Overall purchasing sentiment has warmed up slightly but remains at a low level. Taking everything into account, considering the current cost pressure on downstream enterprises, which makes it difficult to support acceptance of excessively high MHP prices, SMM expects that there may be some downside room for MHP prices.
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