As of now, the FOB price of Indonesian MHP nickel stands at $12,668/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,317/mt Co.
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 nickel payable indicators at 85.5-86%. Affected by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, driving parallel upward adjustments in MHP cobalt quotation and transaction coefficients. The mainstream range now stands at 68-70%. Additionally, some upstream players have signed Q4 MHP orders, with nickel transaction coefficients for Q4 at 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants showed overall weak procurement sentiment. Market-wide, supply-demand tightness persists, with coefficients expected to maintain upside room.
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