Platts launches daily MHP CIF North Asia cobalt payable, updates nickel payable assessment name

Platts, part of S&P Global Energy, has launched a daily mixed hydroxide precipitate (MHP) CIF North Asia assessment for cobalt payable, basis Platts cobalt metal assessment, effective June 2, 2026.

Amid 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 assessment complements Platts existing coverage of MHP payable basis London Metal Exchange (LME) nickel assessment in North Asia and enhances transparency for cobalt payable within MHP transactions.

The MHP cobalt payable is 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 assessment reflects the following specifications:

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

The daily assessment follows the Singapore publishing calendar and reflects spot market information up to the close of the assessment window at 4:30 pm Singapore (0930 GMT). The assessment considers 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.

Platts first proposed to launch the assessment April 15 in a subscriber note available here.

Platts communicated the decision to launch the assessment on May 4 in a subscriber note available here.

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

The daily assessment and the associated monthly average are 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.

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