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Nickel Daily: Nickel ore tender prices remain high, keep market sentiment bullish

Source: Mysteel Feb 27, 2026 09:07
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Nickel Demand Price Supply
Yesterday, the tender for 1.3% grade ore from the Philippines' Eramen mine was awarded at a high range of US $51-$52/wmt FOB, further intensifying the bullish sentiment surrounding nickel ore. Indonesia's domestic premiums remained at elevated levels, with market sentiment strongly tilted toward further price increases. In the Philippines, mine offers held firm. Eramen mine's latest tender for 1.3% grade ore had a starting price of US $52/wmt FOB, with the market adopting a cautious wait-and-see stance. In Indonesia, tight supply in the domestic market, coupled with restocking needs from smelters operating at high utilization rates, kept local nickel ore availability constrained. Premiums for pyrometallurgical ore rose notably to US $35-$39/wmt, a significant increase from previous levels. Overall, the tight supply situation in the nickel ore market is unlikely to see substantial relief in the near term.

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