Metals & Mining, Non-Ferrous

April 15, 2026

Platts proposes to launch daily MHP CIF North Asia cobalt payable, update nickel payable assessment name

Platts, part of S&P Global Energy, is proposing to launch a daily mixed hydroxide precipitate (MHP) CIF North Asia assessment for cobalt payable, basis Platts cobalt metal assessment, effective June 1, 2026.

Amid a tighter supply of cobalt hydroxide since 2025, Platts has observed MHP transactions to have increasingly incorporated cobalt as an additional payable component alongside nickel, traditionally the primary payable element in MHP.

MHP, which typically contains 2%-5% cobalt, is also emerging as an alternative feedstock for cobalt production.

The proposed assessment would complement Platts' existing coverage of MHP payable basis London Metal Exchange (LME) nickel assessment in North Asia and would enhance transparency for cobalt payables within MHP transactions.

The MHP cobalt payable would be assessed as a percentage payable of cobalt metal basis the following brands in the Platts European Cobalt Metal 99.8% mixed-use basket A assessment (ECMCG00), which considers the following brands:

  • Jiangsu KLK broken cathodes
  • Huayou cut cathodes
  • Hanrui cut cathodes
  • Sherritt briquettes
  • Nornickel Norilsk cut cathodes
  • Tengyuan cathodes
  • Greatpower cathodes

The proposed assessment would reflect the following specifications:

Assessment Frequency Quality Quantity Dimensions Incoterm Location Timing Payment UOM
MHP CIF North Asia cobalt payable basis Platts cobalt metal Daily 35-40% nickel content and 2-5% cobalt content Min 100 mt Powder packed in bags CIF North Asia (China, Japan, South Korea) 15-60 days Cash or LC %

At the same time, to better distinguish the proposed cobalt payable from that for nickel, Platts proposes to update the name of the existing nickel payable as follows:

Symbol (Monthly average) Existing assessment description Proposed assessment description effective June 1
BATMD00 (BATMD03) MHP CIF North Asia Payable Basis LME Nickel MHP CIF North Asia Nickel Payable Basis LME Nickel
BATMC00 (BATMC03) MHP CIF North Asia All-In Price Basis LME Nickel MHP CIF North Asia Nickel All-In Price Basis LME Nickel

The proposed daily assessment would follow the Singapore publishing calendar and reflect spot market information up to the close of the assessment window at 4:30 pm Singapore (0930 GMT). The assessment would consider information reported to Platts and published throughout the day, including but not limited to firm bids and offers, transactions and market indications, as well as any other information deemed relevant to the assessment process.

A full description of the Platts assessment methodology and data hierarchy can be found here.

The proposed daily assessment and the associated monthly average would be published in Platts Nonferrous Metals Alert on pages MTL/PMA 8888 and MTL/PMA8880, in Platts Metals Daily, in Platts Battery Metals Market Report, and in the Platts price database, alongside Platts full suite of battery metals assessments.

Please send any feedback, comments, or questions by May 4, 2026, to battery_metals@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.