[SMM MHP Daily Review] August 7: Indonesian MHP prices were basically stable

As of now, the FOB price of Indonesian MHP nickel stands at $12,486/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,278/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 quotation coefficients, with current mainstream nickel payable indicators at 85-86%. Affected by rising cobalt intermediate product prices, cobalt sulphate prices also increased, driving up both the quotation and transaction coefficients for cobalt in MHP. Current mainstream quotations range between 68-70%. Additionally, some upstream players have already signed orders for Q4 MHP, with nickel transaction coefficients for Q4 at 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants showed overall weak procurement sentiment. Market-wise, supply and demand remain tight, with coefficients expected to maintain upside room.

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