[SMM MHP Daily Review] September 22: MHP Price Rises Due to Cobalt Price Rise

As of now, the FOB price for Indonesian MHP nickel is $13,145/mt Ni, and the FOB price for Indonesian MHP cobalt is $23,885/mt Co.

Supply side, recently, in the spot market, some traders have limited available inventory for sale, supporting high quotations. The current mainstream quotations for the nickel payable indicator are 87.5-88%. The DRC's policy to extend the export ban, combined with downstream restocking, has also driven up cobalt sulphate prices, keeping the quotations and transaction coefficients for cobalt in MHP unchanged from last week, with mainstream quotations still at 73-75%. Demand side, affected by the DRC's export ban extension and quota policies, some nickel salt smelters and refined nickel plants have recently inquired and restocked, leading to an overall increase in procurement sentiment. Overall, the market supply and demand are tight, and the nickel payable indicator is expected to remain supported at high levels, while the cobalt payable indicator still has upside room.

[For more content, subscribe to SMM Nickel Research Group products "China Nickel-Chrome-Stainless Steel Industry Chain Regular Report" and "China Nickel-Chrome-Stainless Steel Industry Chain High-End Report" to accessthe latest data analysis and market insights on nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, and stainless steel (China + Indonesia)!]