Nickel Daily: Philippine nickel ore prices decline but still remain at elevated levels overall

Source: Mysteel Apr 23, 2026 08:51

Philippine nickel ore prices remained at elevated levels overall. Chinese nickel pig iron smelters concluded CIF deals for 1.3% grade ore at US $58-59/tonne. New nickel ore prices in Indonesia were still under negotiation, and cost support for nickel remained strong.SHFE nickel prices edged higher yesterday, while spot trading for refined nickel remained generally subdued. Spot premiums/discounts for various brands held steady. For brands such as Huayou, a few merchants continued to offer electrowinning nickel at large discounts. Following the decline in Jinchuan premiums, premiums for Nikkelverk and Sumitomo nickel also moved lower. MHP production costs rose sharply due to higher sulfur prices, providing bottom support for nickel prices.

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