[SMM Analysis: Game Still On, Policy Risks Compound, Indonesia's Nickel Market: Rise or Fall]
Recently, the nickel ore market in the Philippines has demonstrated a strong intention to maintain prices. Ample shipping capacity has led to a decline in ocean freight rates, reducing overall shipping costs. However, while the CIF prices of medium to high-grade nickel ore from the Philippines have remained stable due to negotiations between buyers and sellers, some mines in the northern region have started to raise their price expectations for subsequent tenders, fearing that nickel ore supplies from the Surigao area may not be sustained by the end of the fourth quarter. This week, some mines have increased their FOB offer prices for medium to high-grade lateritic nickel ore. Meanwhile, downstream traders are cautious about signs of a decline in domestic high-nickel pig iron prices.
![[SMM Análisis de mediodía del níquel] Los precios del níquel repuntaron significativamente el 3 de septiembre. Los datos de empleo ADP de EE. UU. de agosto resultaron sorprendentemente débiles, lo que enfrió ligeramente las apuestas sobre una subida de tipos en septiembre.](https://imgqn.smm.cn/usercenter/qLeLR20251217171733.jpg)
![[SMM Análisis diario del sulfato de níquel] El 3 de septiembre, el mercado spot registró escasas operaciones y los precios del sulfato de níquel se mantuvieron estables](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
