Yesterday marked the first working day after the Chinese New Year holiday, with trading activity in the nickel ore market gradually recovering. In the Philippines, mines maintained limited shipments during the holiday, with FOB offers continuing to climb. A transaction for 1.3%-grade ore from the southern Tawi-tawi region was concluded at US $48/wmt FOB. Meanwhile, a tender for 1.3%-grade ore from the northern Eramen mine commenced yesterday with a starting price of US $48/wmt FOB, though no transaction has yet been finalized. Driven by cost pressures, Indonesian procurement prices for Philippine ore also moved higher. A CIF transaction for 1.4%-grade ore to Indonesia was reportedly concluded at US $63/wmt, reflecting Indonesian smelters' capacity to absorb high-priced resources.In Indonesia, the HPM benchmark price for the second half of February has been adjusted according to the new HMA, with prices for various grades declining marginally by approximately US $0.2-0.3/wmt.