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Nickel Daily: Freight rates in the Philippines have surged significantly, substantially increasing shipping costs for nickel ore

Source: Mysteel Mar 11, 2026 08:58
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Nickel Demand Price Supply
For nickel ore, due to the recent escalation of geopolitical conflicts in the Middle East, freight rates in the Philippines have surged significantly, substantially increasing shipping costs for Philippine nickel ore. In Indonesia, nickel ore RKAB quotas are still being approved, with supply release slowing during Ramadan. Domestic ore premiums remained at elevated levels in Indonesia, with mainstream premiums fluctuating in the range of US $35-45/wmt.The supply shortage at the mine end provides strong underlying support for nickel pig iron (NPI) prices. Indonesian high-grade NPI production saw a significant decline in February. According to Mysteel surveys, actual Indonesian NPI production in February reached 124,200 tonnes in Ni. content, a month-on-month decrease of 9.41%.

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