[SMM MHP Daily Review] August 15: Nickel prices of MHP in Indonesia decline

As of now, the FOB price of Indonesian MHP nickel stands at $12,684/mt Ni, while the FOB price of Indonesian MHP cobalt is $21,362/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%. 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 quotations are 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 indicate overall weak procurement sentiment. Market-wide, supply and demand remain tight, and coefficients are expected to retain upside room.

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