Yesterday, the nickel ore market saw a moderate level of inquiries, with strong bottom support keeping prices firm. In the Surigao mining region, the rainy season has been extended and delay supply recovery. Recently, a transaction for 1.4% nickel ore at CIF $51/t was recorded in the Chinese market. Additionally, the April domestic trade benchmark price in Indonesia is expected to see an increase in premiums, driven by the prolonged rainy season in Sulawesi and the anticipated implementation of a new tax policy. For refined nickel, spot transactions cooled compared to last week. Jinchuan nickel saw a sharp rise in morning spot premiums due to sustained increases in ex-factory premiums over SHFE nickel. However, in the afternoon, as Jinchuan released more inventory and SHFE nickel prices climbed, ex-factory premiums fell, reducing traders' procurement costs. Consequently, Jinchuan nickel premiums dropped back to around Yuan 1,800/t.