Indonesian MHP Nickel and Cobalt FOB Prices Rise, High-Grade Nickel Matte Declines

European mills are targeting cold rolled coil prices of €2,900/t delivered by the end of the third quarter, with increases expected to accelerate once new trade measures take effect in July. Despite the difficult downstream environment, buyers generally do not expect prices to decline in the coming months. In Italy, processors are already resisting sheet sales below €2,790/t, while sheet prices across Europe are being pushed toward €2,900/t.

Underlying end-user demand in Europe has still not shown any real improvement. Management comments from both Outokumpu and Aperam indicate that demand remains flat at a low level. As service centers and distributors now have to restock at elevated prices while struggling to pass those increases on downstream, market participants in Germany, Italy, Poland, and elsewhere are being forced into price concessions, putting further pressure on margins.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 May , 2026