[SMM MHP Daily Review] August 12: Indonesian MHP nickel prices rose due to the increase in nickel prices

As of now, the FOB price of Indonesian MHP nickel stands at $12,628/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,280/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 orders for Q4 MHP, with nickel transaction coefficients for Q4 ranging from 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants indicate overall weak procurement sentiment. Comprehensive analysis suggests tight market supply and demand, with coefficients expected to maintain upside room.

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