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Nickel Daily: Tender prices for nickel ore in the Philippine continue the ascent amid robust purchasing demand

Source: Mysteel Feb 06, 2026 09:04
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Nickel Demand Production Supply
Philippine mine tender prices continued their ascent amid robust purchasing demand, while the domestic Chinese market, grappling with severe cost inversion, saw buyers retreat into a full wait-and-see mode. In the Philippines, the uptrend in mine tender prices persisted, with bullish sentiment remaining strong. Market sources indicated that the latest tender price for 1.4%-grade nickel ore from the northern Eramen mine have reached US $52/wmt FOB. Concurrently, 1.3%-grade ore from the Tawi-tawi region was concluded at US $45/wmt FOB. The continuous rise in source prices maintained significant pressure on midstream costs.In Indonesia, market demand remained relatively active, with a noticeably stronger capacity to absorb high-priced material compared to the Chinese market. It was reported that Indonesian plants' CIF acceptance prices reached US $61/wmt for 1.4%-grade ore and US $54/wmt for 1.3%-grade ore.SHFE nickel prices edged softer yesterday.

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