[SMM Daily Review of Nickel Intermediate Products] August 7, MHP and High-Grade Nickel Matte Prices Fell

As of now, Indonesia MHP nickel FOB price is $15,273/mt Ni, Indonesia MHP cobalt FOB price is $47,840/mt Co. MHP nickel payables (against SMM battery-grade nickel sulphate index) are 82.5-83.5, and the MHP cobalt payables indicator (against SMM refined cobalt [Rotterdam warehouse]) is 90. Indonesia high-grade nickel matte FOB price is $15,700/mt Ni.

In the MHP market, supply side, as sulphur arrivals have been concentrated at ports, some projects' production schedules have recovered, and the overall available external supply has recovered. Demand side, currently, both nickel sulphate and cobalt prices are relatively weak, salt plants show weak price acceptance, putting pressure on nickel and cobalt payables. Looking ahead, MHP nickel and cobalt payables may be under pressure due to weak cobalt sulphate prices.

In the high-grade nickel matte market, supply side, available market supply is tight, and sellers' offers are firm. Demand side, enterprises that purchase raw materials externally currently find high-grade nickel matte more economical than using MHP. Under tight supply-demand conditions, nickel payables are currently supported at high levels. Looking ahead, with expectations of tightening MHP supply, the supplementary role of high-grade nickel matte as an alternative raw material is becoming prominent, and nickel payables are unlikely to decline.

[ For more content, subscribe to SMM nickel research team products "China Nickel, Chrome, and Stainless Steel Industry Chain Regular Report" and "China Nickel, Chrome, and Stainless Steel Industry Chain High-End Report", to access the latest nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore, ferrochrome, stainless steel (China + Indonesia) related data analysis and market analysis! ]