[SMM MHP Daily Review] August 11: Nickel prices in Indonesia's MHP market rise slightly

As of now, the FOB price of Indonesian MHP nickel stands at $12,575/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,254/mt Co.

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 ranging between 85.5-86%. Influenced by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, driving parallel upward adjustments in MHP cobalt quotation and transaction coefficients. Current mainstream quotations for cobalt stand at 68-70%. Additionally, some upstream players have already signed Q4 MHP orders, with nickel transaction coefficients for Q4 settling between 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants indicate overall weak procurement sentiment. Market-wide, supply-demand dynamics remain tight, with coefficients expected to retain upside room.

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