[SMM Nickel Intermediate Product Daily Review] August 27 MHP and High-Grade Nickel Matte Prices Rose

As of now, the FOB price of Indonesian MHP nickel is $14,994/mt Ni, and the FOB price of Indonesian MHP cobalt is $37,536/mt Co. The MHP payables (evaluated against the SMM battery-grade nickel sulphate index) are 84.5-85.5, and the MHP cobalt element payable indicator (evaluated against the SMM refined cobalt (Rotterdam warehouse) price) is 73. The FOB price of Indonesian high-grade nickel matte is $15,628/mt Ni.

In the MHP market, supply side, as sulphur has concentrated arrivals at ports, some projects' production schedules have partially recovered, and the overall market available supply has recovered. Demand side, currently both nickel and cobalt sulphate prices are relatively weak, and salt plants' price acceptance is poor, exerting downward pressure on nickel and cobalt payables. Looking ahead, MHP nickel and cobalt payables are expected to remain under pressure due to weak cobalt sulphate prices.

In the high-grade nickel matte market, supply side, due to the significant economic advantage of NPI, the available volumes of high-grade nickel matte in the market are tight, and seller offers are firm. Demand side, currently, enterprises that purchase raw materials externally find using high-grade nickel matte more economical than using MHP. Under tight supply-demand conditions, nickel payables are supported at current high levels. Looking ahead, high-grade nickel matte supply is relatively tight, and nickel payables are unlikely to decline.

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