As of now, the FOB price of Indonesian MHP nickel stands at $12,516/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,277/mt (metal content).
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%. Affected by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, driving up both the quotation and transaction coefficients for cobalt in MHP. Current mainstream quotations range between 68-70%. Additionally, some upstream players have already signed orders for Q4 MHP, with Q4 nickel transaction coefficients at 85-86%. Demand side, some nickel salt smelters and refined nickel plants have recently inquired about orders, though overall procurement sentiment remains relatively weak. Overall, the market exhibits tight supply and demand, with the coefficient expected to maintain upside room.
[For more content, subscribe to SMM Nickel Research Group products: "China Nickel-Chrome-Stainless Steel Industry Chain Regular Report" and "China Nickel-Chrome-Stainless Steel Industry Chain High-End Report" to accessthe latest data analysis and market insights on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, stainless steel (China + Indonesia)!]
