[SMM MHP Daily Review] On August 21, MHP prices declined due to the drop in nickel prices

As of now, the FOB price for Indonesian MHP nickel is $12,679/mt Ni, and the FOB price for Indonesian MHP cobalt is $21,410/mt Co.

Supply side, recently, in the spot market, some traders have exhausted their available volume 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 the rise in cobalt intermediate product prices, 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, with tight market supply and demand, the coefficient is expected to have further upside room.

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