Last week, nickel ore prices exhibited a strong trend. The core drivers of this increase were the supply gap resulting from tightened RKAB quotas in Indonesia and cost support from the firm Philippine mine offers. In the Philippines, mine tender prices continued to climb throughout the week amid strong bullish sentiment. Driven by robust demand from Indonesia, CIF prices for Ni:1.4% grade ore shipped from the Philippines to Indonesia rose by US $4-5/wmt during the week to US $67-69/wmt, which provided strong support to overall nickel ore prices. Nickel sulfate market prices saw slight declines following the CNY holiday, yet mainstream transaction levels shifted higher overall. Amid rising nickel prices and insufficient inventories, producers generally raised mainstream offers while actively reducing inflated quotes to better align with actual transaction levels.