Nickel Daily: Trading activity in the refined nickel spot market remain generally subdued

Source: Mysteel May 19, 2026 09:07

Philippines nickel ore prices accelerated their decline last week, with mine FOB offers edging lower and China CIF transaction prices dropping notably. The CIF price for 1.3% grade ore fell to US50/wmt,while1.450/wmt,while1.458-60/wmt--a sharper drop than the previous week. In Indonesia, the domestic nickel ore market remained largely fixed-price based. Imported Philippine 1.4% laterite ore stood at US58/wmt CIF, while the same domestic grade was fixed at US58/wmt CIF, while the same domestic grade was fixed at US64/wmt. Yesterday, trading activity in the refined nickel spot market remained generally subdued. Nickel prices continued to fall, while spot premiums/discounts for various brands were steady to higher. On the supply side, refined nickel inventories remained high, with social inventories in China continuing to accumulate. Spot resources were generally ample, and traders showed increased willingness to offer concessions to move material.