This week, Philippine nickel ore FOB and CIF prices held steady. FOB offers for 1.3% grade stood at US $34-38/wmt. For Indonesian domestic nickel ore, prices for 1.4% grade remained firmly at high levels of US $64-66/wmt. Overall, high prices in the Indonesian domestic ore market softened slightly, but the decline was limited.SHFE nickel prices traded in a range with an upward bias yesterday, with trading activity remaining subdued. Spot premiums/discounts for various refined nickel brands held mostly steady. The build in spot refined nickel inventories in China was clear, with inventories at home and abroad continuing to diverge. On the nickel ore front, Indonesia's RKAB approval process was about 90% complete but had progressed slowly. Domestic ore prices remained high, while a modest increase in sea freight lifted landed costs, and cost support persisted. Overall, the refined nickel market remained caught in a tug-of-war between cost support and high inventory levels.