As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 83.5%-84%, with the FOB price of Indonesian MHP at $12,489/mt Ni.
Supply side, recent MHP market circulation has been relatively tight, with some traders reporting depleted available volumes. Affected by policy changes in the DRC, the cobalt coefficient in MHP offered by certain traders has risen. Demand side, some nickel salt smelters inquired this week, though overall purchasing sentiment remained relatively weak. Overall, the market supply and demand remain tight, and prices are expected to stabilize in the short term.
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