Fastmarkets launches Indonesia prices for NPI and MHP

Fastmarkets, a cross-commodity price reporting agency (PRA), is creating transparency in the battery raw materials market with the launch of free-on-board (FOB) Indonesia prices for nickel pig iron (NPI) and mixed hydroxide precipitate (MHP).
NPI and MHP are key products in the nickel industry. NPI is used in the production of stainless steel and increasingly in the production of other nickel intermediates. MHP is vital in the production of intermediate components for nickel-rich cathode lithium-ion batteries, particularly nickel manganese cobalt (NMC) chemistry batteries.
Nickel produced in Indonesia represents more than half of global nickel production, a level which is forecast to rise to up to 70% of global production by 2030. Production of class 2, non-LME deliverable nickel products is growing from established production hubs, of which Indonesia is the global leader. Fastmarkets’ decision to launch these prices highlights the critical role Indonesia plays in the global metal and battery raw material supply chains.
Regional and product price divergence has been a consistent trend across nickel markets globally, creating the need for more granular price reporting. These new NPI and MHP prices FOB Indonesia will contribute to Fastmarkets’ existing suite of nickel prices, which include assessments on a delivered duty paid (ddp) China basis for NPI and on a cif China, Japan, and South Korea basis for MHP.

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