[SMM Intermediate Product Daily Review] On March 2, MHP and high-grade nickel matte prices rose

As of now, the FOB price for Indonesian MHP nickel is $15,658/mt Ni, and the FOB price for Indonesian MHP cobalt is $49,660/mt Co. The MHP payable indicator (against the SMM battery-grade nickel sulphate index) is 88-89, and the MHP cobalt element payable indicator (against the SMM refined cobalt (Rotterdam warehouse)) is 91. The FOB price for Indonesian high-grade nickel matte is $16,021/mt Ni.

In the MHP market, supply side, there is a low volume of spot circulation, with some sellers suspending their quotations, as the market watches the follow-up handling of a tailings dam landslide incident in an Indonesian industrial park. Demand side, due to the DRC's export quota policy for cobalt intermediate products, MHP's role as a supplementary raw material for cobalt intermediate products has become more prominent, with downstream just-in-time procurement. Overall, the market supply and demand are tight, with nickel payables and cobalt payables remaining at high levels.

In the high-grade nickel matte market, on the supply side, the available market volume is tight, and seller quotations are firm. On the demand side, currently, it is more economical for enterprises purchasing external raw materials to use high-grade nickel matte compared to MHP. Under the tight supply and demand, the current high nickel payables are supported.

[For more content, please 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 obtain the latest data and market analysis on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore, ferrochrome, and stainless steel (China + Indonesia)! ]