Nickel Daily: Nickel prices to remain firm in the short term

In the Philippines, recent tenders for northern mines showed a price difference for the same grade ore, with Eramen 1.3% FOB at $33 and Benguet 1.3% FOB at $36/37. Meanwhile, some mines in Surigao have started quoting prices, and overall, mine offers remain firm. In Indonesia, the nickel ore supply remains tight, with domestic trade premiums holding at +19-20. Some factories still face inventory shortages and continue to procure raw materials.For refined nickel, downstream enterprises maintain adequate inventory, leading to a cautious market sentiment. Traders generally believe the current nickel price rally is not yet over, showing low willingness to offer discounts. Premiums and discounts for various refined nickel brands remained generally stable with a slight decline yesterday.

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