In the nickel ore market, geopolitical conflicts have pushed international oil prices to elevated levels, leading to a sharp increase in sea freight rates for Philippine nickel ore. Freight rates from Surigao to Lianyungang were once quoted at US $18-20/wmt, while freight rates from the Philippines to Bohai Bay reached approximately US $16/wmt. Philippine mine tender prices remained high, with FOB transaction prices for 1.2% grade ore from northern mines at US $45/wmt and quotes for 1.3% grade ore at US $52/wmt. Additionally, several major Philippine oil suppliers announced they would cease fuel supply to mines without long-term supply contracts, potentially constraining production at some small mines.