In the Indonesian domestic market, the premium structure for nickel ore showed a clear divergence between high and low grades. Premiums for high-grade ore (above 1.6%) remained firm, while premiums for low-grade ore (1.4%) came under notable pressure. Mainstream premiums were in the range of US $5-8/wmt. In the Philippines, the CIF reference price for 1.3% grade ore stood at US $48-50/wmt, remaining weak but stable overall.Yesterday, the most-traded SHFE nickel 2607 contract closed down 1.72% at Yuan 135,100/tonne. Spot trading for refined nickel was relatively active overall, with traders showing strong willingness to sell. Spot premiums/discounts for various brands were mostly stable with minor adjustments, with no notable upward revisions. On the supply side, the end of the rainy season in the Philippines had marginally loosened nickel ore supply. On the demand side, stainless steel entered the off-season, with orders declining.