Yesterday, offers in the high-grade NPI market held steady, with the price spread between high and low grades remaining wide. Offers for NPI with grade above 12% stood at Yuan 1,180/mtu (including delivery and tax), while NPI with grade around 11% was offered at Yuan 1,150-1,160/mtu.On the cost side, Philippine nickel ore prices held steady, with Lianyungang CIF offers for 1.3% grade at US $47/wmt. In the Indonesian domestic ore market, the CIF price for Ni:1.6% Mc35% stood at US $70.64/wmt.On the supply side, power tightness at the IWIP industrial park continued to intensify. According to market sources, the park's dominant operator had required some NPI producers to cut production in order to secure power supply for its aluminum smelting project. As the IWIP aluminum project gradually ramped up, a meaningful recovery in high-grade NPI supply appeared unlikely.