[SMM MHP Daily Review] On August 20, MHP prices declined due to the drop in nickel prices

As of now, the FOB price for Indonesian MHP nickel is $12,741/mt Ni, and the FOB price for Indonesian MHP cobalt is $21,418/mt Co.

Supply side, recently, in the spot market, some traders have exhausted their available volumes for sale, and some have stopped quoting. Additionally, due to tight supply and demand in the MHP market, some traders have raised their Q4 quotations, with the current mainstream nickel payable indicator at 86-87%. Affected by rising intermediate product prices for cobalt, cobalt sulphate prices have also increased, driving up the quotation and transaction coefficient for cobalt in MHP. The current mainstream quotation is 68-70%. Demand side, recently, some nickel salt smelters and refined nickel plants have inquired, but overall procurement sentiment is relatively weak. Overall, market supply and demand are tight, and the coefficient is expected to have further upside room.

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