According to SMM data, on May 20, the FOB price of Indonesian MHP nickel fell by $28/mt Ni from the previous day, while the FOB price of Indonesian MHP cobalt rose by $1/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $29/mt Ni from the previous day.

According to SMM data, on May 19, the FOB price of Indonesian MHP nickel fell by $122/mt Ni from the previous day, and the FOB price of Indonesian MHP cobalt fell by $1/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $217/mt Ni from the previous day.

According to SMM data, on May 15, the FOB price of Indonesian MHP nickel fell by $80/mt Ni from the previous day, while the FOB price of Indonesian MHP cobalt rose by $1/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $81/mt Ni from the previous day.

SMM 10-12% high-grade NPI average price fell 4.5 yuan/nickel unit WoW to 1,146 yuan/nickel unit (ex-factory, tax included), while the Indonesian NPI FOB index average price rose 0.97 $/nickel unit WoW to 147.75 $/nickel unit. This week, the high-grade NPI market overall hovered at highs, with significant divergence between sellers and buyers. The price center shifted slightly lower amid the tug-of-war between cost support and weak demand, and overall market sentiment was subdued.

Supply Contraction Expectations Persisted, MHP and High-Grade Nickel Matte Payable Indicators Fluctuated at Highs This Week

According to SMM data, on May 15, the FOB price of Indonesian MHP nickel fell by $80/mt Ni from the previous day, while the FOB price of Indonesian MHP cobalt rose by $0/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $81/mt Ni from the previous day.