As of now, the FOB price of Indonesian MHP nickel is $12,516/mt Ni (metal content), and the FOB price of Indonesian MHP cobalt is $21,277/mt (metal content) of refined cobalt.

On August 8, the SMM battery-grade nickel sulphate index price was 27,212 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,190-27,690 yuan/mt, and the average price remaining unchanged from yesterday.

In July 2025, the average discount of high-grade NPI to refined nickel was 309.13 yuan per mtu, an increase of 28.59 yuan per mtu compared to the previous month. During the same period, the price spread between the two fluctuated within a range, but the magnitude of fluctuation increased, while the price of refined nickel exhibited a trend of being in the doldrums. From a macro perspective, with the introduction of China's "anti-rat race" competition policies, the market received positive signals, driving a rebound and correction in non-ferrous metal prices. Although the price of refined nickel also followed this trend and rebounded, its increase was relatively limited. From a fundamental perspective, domestic refined nickel production slightly increased in July.

As of now, the FOB price of Indonesian MHP nickel is $12,486/mt Ni (metal content), and the FOB price of Indonesian MHP cobalt is $21,278/mt (metal content) of refined cobalt.

[SMM Daily Review: High-grade NPI Quotations Remain Firm amid Supply-Demand Mismatch, Downstream Enterprises Exercise Caution] On August 7, the average price of SMM 10-12% high-grade NPI was 918.5 yuan/mtu (ex-factory, tax included), up 0.5 yuan/mtu from the previous working day.

On August 7, the SMM battery-grade nickel sulphate index price was 27,202 yuan/mt, with the quotation range for battery-grade nickel sulphate being 27,190-27,690 yuan/mt, and the average price increased compared to yesterday.

Spot supply of nickel salts remains tight, and nickel salt prices rose this week.

[SMM Daily Review: The center of high-grade NPI quotes rises, with no large-scale transactions in the market] On August 6, the average price of SMM 10-12% high-grade NPI was 918 yuan/mtu (ex-factory, tax included), up 2 yuan/mtu from the previous working day.