Indonesia's Ministry of Energy and Mineral Resources (ESDM) plans to revise the benchmark price for nickel ore, with changes involving the inclusion of cobalt content in pricing and adjustments to the pricing coefficient, with the core objective of raising the HPM. Meanwhile, discussions on a windfall profit tax remained ongoing. On the supply side, the number of mines that have received RKAB nickel ore quotas remained limited, with total quota volume estimated at around 160 million tonnes. Additionally, a recent production accident at a major mining site led to operational suspensions, limiting actual shipment capacity from miners. The approaching rainy season in Sulawesi further added to supply uncertainty, with market participants awaiting the release of new nickel ore premiums for the coming month. In the Philippines, Chinese NPI smelters received CIF offers for 1.3% grade nickel ore at US $65/wmt, with Philippine nickel ore offers remaining firm.