[SMM MHP Daily Review] August 14: Indonesian MHP nickel prices rose due to the increase in nickel prices

As of now, the FOB price of Indonesian MHP nickel stands at $12,701/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,340/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 at 85.5-86%. Driven by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, pushing up both quotation and transaction coefficients for cobalt in MHP. The mainstream cobalt coefficient now ranges between 68-70%. Additionally, some upstream players have signed Q4 MHP orders, with nickel transaction coefficients for Q4 at 85-86%. Demand side, recent inquiries from nickel salt smelters and refined nickel plants indicate overall weak procurement sentiment. Market-wide, supply-demand tightness persists, and coefficients are expected to maintain upside room.

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