[SMM MHP Daily Review] MHP Prices Rose on October 28

As of now, the FOB price of Indonesian MHP nickel is 13,394 yuan/mt Ni, and the FOB price of Indonesian MHP cobalt is $39,233/mt Co.

Supply side, recently, in the spot market, some traders have limited available inventory for sale, supporting offers at highs. The DRC's policy extended the export ban and implemented quotas, coupled with downstream restocking, cobalt sulphate prices fluctuate at highs, driving up MHP cobalt offers and transaction coefficients. Demand side, some nickel salt smelters and refined nickel plants have recently inquired and restocked, with overall purchasing sentiment rising. Overall, the market supply and demand are tight, and nickel payables and cobalt payables are expected to remain supported at highs.

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