Yesterday, offers in the nickel ore market remained broadly stable. Domestic premiums in Indonesia held firm at high levels and reflected strong bullish sentiment. Mine offers from the Philippines also stayed supported. In Indonesia, the tight supply situation in the domestic market persisted. Intensified competition for local nickel ore resources, driven by quota tightening policies from Indonesia's Ministry of Energy and Mineral Resources (ESDM) for the 2026 RKAB, kept domestic premiums elevated due to restocking needs from smelters. The mainstream premium range for Indonesian pyrometallurgical ore remained at US $35-39/wmt, with offers for some tight-supply material even pushing towards US $40/wmt.Over the week, SHFE nickel prices fluctuated but remained strong. Downstream participants remained largely cautious, keeping spot trading subdued.