The nickel ore market remained relatively calm, with prices holding steady. In Indonesia, the trade benchmark price for December (Period II) is expected to decline by US$0.11-0.18/tonne. Regarding trade premiums, the mainstream premium has moved to $25/wmt, generally within a range of $25-26/wmt. Overall, nickel ore prices are anticipated to experience a further decline.Yesterday, SHFE nickel prices continued their downward trend, with no significant improvement seen in spot trading activity for refined nickel. Spot availability of Jinchuan electrolytic nickel remained tight in the trade channel, leading to a further upward shift in the premium/discount transaction focus. In contrast, premiums/discounts for Jinchuan nickel and Sumitomo resources saw a slight decrease, while other major brands remained largely stable overall.