Last week, nickel prices traded in a narrow range. During the week, the US Federal Reserve's June FOMC meeting kept interest rates unchanged, but the dot plot showed that half of the officials expected a possible rate hike within the year, and a stronger US dollar weighed on the non-ferrous metals sector. On the nickel ore front, medium-to-high grade Philippine ore prices remained weak but stable overall. CIF transaction prices for 1.3% grade stood at US $49-52/wmt, 1.4% grade at US $57-60/wmt, and 1.5% grade at US $65-67/wmt. On the refined nickel front, after nickel prices recovered modestly, spot trading turned notably colder compared with the previous week. Traders showed insufficient willingness to restock. Last week, the nickel sulfate market continued its weak downward trend, with the price center of gravity moving further lower.