On the cost side, the premium for domestic nickel ore in Indonesia showed a clear divergence, with a significant difference between high-grade and low-grade premiums. Mainstream premiums stood in the range of US $5-8/wmt. Overall, premiums for high-grade ore (above 1.6%) remained firm, while premiums for lower-grade ore (1.4%) came under notable pressure. In the Philippines, the tsunami warning for waters off Mindanao had been lifted, and the previously affected nickel mines had resumed normal loading operations. The current CIF reference price for Philippine 1.3% grade ore stood at US $48-50/wmt, remaining weak but stable.Yesterday, the most-traded SHFE nickel 2607 contract closed down 1.14% at Yuan 137,620/tonne. Downstream companies increased their procurement, and spot trading for refined nickel improved somewhat. Traders showed greater willingness to sell, and spot premiums/discounts for various brands were mostly stable with minor adjustments, with no notable upward revisions.