Nickel ore tender prices in the Philippines continue to show an upward trend. Last week, CNC mine concluded a tender for 1.3% grade ore at US $53/wmt (FOB). This week, PGMC mine followed with a tender for the same grade at US $55/wmt, reflecting a continued rise. On the freight front, shipping rates from Surigao to Lianyungang currently stand at approximately US$15.5/wmt. Although rates have pulled back from recent peaks, they remain relatively high compared to historical averages.SHFE nickel prices fell further yesterday, accompanied by a narrowing monthly spread. Spot premiums/discounts saw modest upticks in the morning session, but by afternoon, the front-month contract briefly dipped below Yuan 130,000/tonne. Some downstream consumers considered prices to have reached short-term lows, increasing their willingness to purchase at lower levelsresulting in slightly improved transaction volumes compared to the previous two days.