As of now, the FOB price of Indonesian MHP nickel stands at $12,783/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,432/mt Co.
Supply side, recent spot market observations indicate that some traders have exhausted their available volumes for sale, with a few having halted quotations. Additionally, due to tight supply and demand in the MHP market, certain traders have raised their Q4 quotations, with current mainstream nickel payable indicators at 86-87%. Influenced by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, driving up both the quotations and transaction coefficients for cobalt in MHP. Current mainstream quotations range between 68-70%. Demand side, some nickel salt smelters and refined nickel plants have recently inquired about orders, though overall procurement sentiment remains relatively weak. In summary, with tight market supply and demand, the coefficient is expected to maintain upside room.
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