As of now, the FOB price for Indonesian MHP nickel is $15,654/mt Ni, and the FOB price for Indonesian MHP cobalt is $49,740/mt Co. The MHP payable indicator (against the SMM battery-grade nickel sulphate index) is 86-87, and the MHP cobalt element payable indicator (against the SMM refined cobalt (Rotterdam warehouse)) is 91. The FOB price for Indonesian high-grade nickel matte is $16,017/mt Ni.
In the MHP market, from the supply side, there is a low volume of spot circulation, with some sellers suspending their quotations. From the demand side, the peak season for new energy coupled with export rush demand has led to active inquiries from downstream buyers. Overall, the market's supply and demand are tight, supporting high nickel payables and cobalt payables.
In the high-grade nickel matte market, on the supply side, the available market volume is tight, and seller quotations are firm. On the demand side, currently, it is more economical for enterprises purchasing raw materials externally to use high-grade nickel matte compared to MHP. Under the tight supply and demand, the current high nickel payables are supported.
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