Nickel ore prices remained generally stable recently. A transaction for 1.3% nickel ore in southern China was concluded at $39.5/wmt CIF. In the Philippines, the tender for 1.3% ore from the Benguet mine in the north was finalized at $33.5/wmt FOB.SHFE nickel prices rose sharply yesterday. However, spot trading for refined nickel remained relatively cold. Spot premiums/discounts for Jinchuan electrolytic nickel increased again. Given the high premium levels, traders were cautious in procurement, leading to tight spot availability; many transactions were negotiated case-by-case or quoted as a premium/discount to Jinchuan's ex-factory price. Spot prices for electro-deposited nickel from other brands remained largely stable near parity. Imports of refined nickel are expected to increase. However, influenced by Indonesian policy developments, market sentiment is likely to remain a strong driving force in the short term.