Philippine medium-to-high grade ore prices continued their downward trend. CIF offers for 1.3% grade stood at US $49/wmt, down about US $1/wmt during the week. Indonesian domestic ore prices fell by about US $5/wmt in July, and a 7.6% decline in the HMA reference price further weighed on ore prices. The new RKAB supplementary quota policy officially opened its application window on July 1, with only the full month of July available for submitting supplemental production increase applications. New quotas were required to be tied to domestic Indonesian smelting capacity owned by the applicant, and applications from pure mining companies were likely to be rejected. Port nickel ore inventories continued to accumulate, keeping persistent downward pressure on ore prices.Last week, the nickel sulfate market held steady with a weaker bias, and the price center of gravity moved slightly lower.