As of now, the FOB price of Indonesian MHP nickel is $16,104/mt Ni, and the FOB price of Indonesian MHP cobalt is $48,994/mt Co. The MHP payables (against the SMM battery-grade nickel sulphate index) are 86.5-87, and the MHP cobalt element payable indicator (against SMM refined cobalt (Rotterdam warehouse)) is 90. The FOB price of Indonesian high-grade nickel matte is $16,632/mt Ni.
Regarding the MHP market situation, supply side, recently, spot market circulation volume was low, with some sellers slightly lowering their offers. Demand side, affected by the DRC's cobalt intermediate products export quota policy, the supplementary role of MHP as an alternative raw material for cobalt intermediates has become prominent. However, downstream acceptance of high-priced intermediates is low, resulting in few just-in-time procurement transactions. Overall, the market supply and demand are tight, and the nickel payables and cobalt payables are currently slightly adjusted downward.
For the high-grade nickel matte market situation, supply side, market circulation volume is tight, and seller offers remain firm. Demand side, currently, for enterprises purchasing raw materials externally, the economics of using high-grade nickel matte are stronger compared to using MHP. Under tight supply and demand, the nickel payables currently have high support.
[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 obtainthe latest data analysis and market interpretation related to nickel ore, NPI (China + Indonesia), refined nickel, nickel sulphate, chrome ore,ferrochrome, and stainless steel (China + Indonesia)!]
