The overall resources of the nickel ore market are limited, with prices operating firmly on a stable-to-strong trend. In the Philippines, the tender for 1.25% nickel ore from Benguet Mining was concluded at US $32.5/wmt, representing an increase from the previous period. The mine maintains a bullish outlook. Given the recent significant rise in LME nickel prices, the Indonesia's benchmark price for the second period in January is expected to increase further by US $3-5/wmt. Market participants are advised to monitor subsequent shifts in market sentiment and the finalization of actual transactions.Yesterday, nickel prices continued strong upward trend. Downstream enterprises primarily engaged in procurement based on immediate needs, resulting in generally tepid spot trading activity for refined nickel. Spot availability of Jinchuan resources remained tight.