As of now, the FOB price for Indonesian MHP nickel is $12,682/mt Ni, and the FOB price for Indonesian MHP cobalt is $21,395/mt Co.
Supply side, recent spot market observations indicate that some traders have exhausted their available volumes for sale, with some having halted quotations. Additionally, due to tight supply and demand in the MHP market, some traders have raised their Q4 quotations, with current mainstream quotations for the nickel payable indicator at 86-87%. Influenced by rising prices of cobalt intermediate products, cobalt sulphate prices have also increased, driving up both the quotations and transaction coefficients for cobalt in MHP. Current mainstream quotations are at 68-70%. Demand side, some nickel salt smelters and refined nickel plants have recently inquired, though overall procurement sentiment remains relatively weak. Overall, with tight market supply and demand, the coefficient is expected to have further 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, nickel pig iron (China + Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, and stainless steel (China + Indonesia)!]
