As of now, the FOB price of Indonesian MHP nickel stands at $12,477/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,285/mt refined cobalt.
Supply side, recent MHP market circulation remains relatively tight, with some traders reporting depleted available volumes. Consequently, certain traders have raised their quotation coefficients, with current mainstream quotations for the nickel payable indicator at 85-86%. Driven by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, pushing up both the quotation and transaction coefficients for cobalt in MHP. Current mainstream quotations range at 68-70%. Additionally, some upstream players have already signed orders for Q4 MHP, with Q4 nickel transaction coefficients at 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants have been observed, though overall procurement sentiment remains relatively weak. Overall, the market exhibits tight supply and demand, with the coefficient expected to maintain upside room.
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