[SMM MHP Daily Review] On August 25, MHP prices declined due to the drop in nickel prices

As of now, the FOB price for Indonesian MHP nickel is $12,701/mt Ni, and the FOB price for Indonesian MHP cobalt is $21,395/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 current mainstream quotations for the nickel payable indicator at 86-87%. Affected by rising cobalt intermediate product prices, cobalt sulphate prices have also increased, driving up both the quotations and transaction coefficients for cobalt in MHP. Current mainstream quotations are at 68-70%. Demand side, recently, some nickel salt smelters and refined nickel plants have inquired, but overall procurement sentiment remains relatively weak. Overall, with tight market supply and demand, the coefficient is expected to have further upside room.

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