Nickel ore FOB offers in the Philippines continued to weaken. Mine MMDC offered 1.3% grade at US $33.5/wmt, CNC at US $35/wmt, CTP at US $35/wmt, SMDC at US $34/wmt, and SRL at US $35/wmt. On the freight front, sea freight rates from the Philippines to China stood at US $12-14/wmt. Indonesian nickel ore prices still had room to move lower. According to market sources, Indonesian nickel ore prices in July would likely decline by around US $5/wmt, though specific transaction details still needed further confirmation.Nickel prices continued to weaken yesterday, with the most-traded SHFE nickel contract closing down 1.55% at Yuan 126,710/tonne. Spot trading for refined nickel was generally acceptable, with premiums/discounts for various brands mostly moving higher. Nickel prices came under pressure from a combination of macro headwinds, Indonesian policy uncertainty, and high inventories.