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Nickel Daily: Nickel ore FOB and CIF prices in the Philippines show a weak and stable trend

Source: Mysteel Jun 02, 2026 09:14
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Nickel Demand Price Supply
Last week, Philippine nickel ore FOB and CIF prices showed a weak and stable trend. FOB offers for 1.3% grade stood at US $34-35/wmt, with CIF transaction prices near US $48/wmt. On the Indonesian domestic ore front, prices for 1.4% grade remained firmly at high levels, in the range of US $64-66/wmt.Yesterday, the spot refined nickel market in China traded weaker in line with futures, with trading activity remaining subdued. Spot premiums/discounts for various refined nickel brands held mostly steady. Early in the week, downstream producers adopted a strong wait-and-see stance, making only small essential purchases. Overall market activity remained low. On the supply side, domestic refined nickel inventories continued to accumulate to high levels, keeping spot digestion pressure elevated and capping upside price elasticity.

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