Indonesian MHP Prices Drop Amid Tight Supply and Weak Demand

[SMM MHP Daily Review] August 4: Indonesian MHP Prices Decline On August 4, 2025, the Indonesian MHP market experienced a downturn, with the MHP coefficient (relative to the SMM battery-grade nickel sulfate index) fluctuating between 83.5% and 84%. The FOB price for Indonesian MHP was reported at $12,429 per metric ton of nickel. Supply remains constrained, with traders indicating limited available volumes. Some upstream and downstream companies have placed small orders for Q4 MHP. While inquiries from nickel salt smelters and refined nickel producers have increased recently, overall market sentiment remains subdued. The current supply-demand balance suggests stable market activity in the near term. For the latest insights and comprehensive analysis on nickel-related markets, subscribe to SMM's industry reports covering nickel ore, NPI (China and Indonesia), refined nickel, nickel sulfate, chrome ore, ferrochrome, and stainless steel in China and Indonesia.