For nickel ore, Indonesia reported that approved RKAB quotas totaled approximately 200 million tonnes, and supply remained tight. In the spot market, premiums on certain nickel ore grades climbed to around US $45/wmt, while downstream buyers, facing financial losses, continued to resist higher ore prices. Last week, nickel sulfate prices showed a stable yet under-pressure trend. Actual market activity was weak, as downstream ternary precursor manufacturers held a pessimistic demand outlook for April and significantly reduced their spot purchases of nickel sulfate, while buyers took a firm stance in pushing prices down. At the same time, upstream raw materials offered some support, with slow progress on Indonesian RKAB approvals and persistently tight supply of intermediate products. Overall, caught between weak demand and cost support, nickel sulfate prices are likely to remain in a weak, range-bound pattern in the near term.