Nickel Daily: Mine tender prices In the Philippines continue to rise, with bullish sentiment dominating the market

In the Philippines, mine tender prices continued to rise, with bullish sentiment dominating the market. Recently, a southern Chinese plant procured 1.3% nickel ore at a price of CIF $42/wmt. A new tender for 1.3% nickel ore from Benguet Mining was concluded at FOB $38/wmt, showing a clear increase from the previous period and indicating firm price-supporting resolve from miners. SHFE nickel prices traded with a weaker trend in a fluctuating pattern yesterday. Overall spot trading activity for refined nickel was subdued. Although Jinchuan increased its releases to the trade market, some traders needed to fulfill backlogged orders for downstream clients from the fourth quarter of last year. Coupled with active buying from certain regional purchasers, Jinchuan spot resources remained generally tight overall. A certain volume of NORNICKEL nickel arrived recently, leading to a slight decrease in its premium. Premiums and discounts for other brands remained largely stable.

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