As of now, the FOB price of Indonesian MHP nickel stands at $12,510/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,285/mt refined cobalt.
Supply side, recent MHP market circulation remains relatively tight, with some traders reporting depleted available volumes. Consequently, certain traders have raised their payable indicator quotations, with the current mainstream nickel coefficient at 85-86%. Driven by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, pushing up both the quotation and transaction coefficients for cobalt in MHP. The current mainstream cobalt coefficient stands at 68-70%. Additionally, some upstream players have already signed Q4 MHP orders, with Q4 nickel transaction coefficients at 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants indicate overall weak procurement sentiment. Market-wide, supply and demand remain tight, with prices expected to stabilize in the short term.
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