The Domestic Philippine Nickel Ore Market Remains Sluggish Prices Fluctuate Downward
During the week, Philippine laterite nickel ore prices remained stable. Shipments of low-nickel high-iron nickel ore have concluded for the year, with no transactions in the market; mid- to high-grade nickel ore saw a standoff between upstream and downstream players, with prices temporarily stable. Supply side, some mines in the Philippines remain on holiday shutdown, and shipments from major production areas in the Philippines this month are at low levels, while domestic port inventory is primarily undergoing destocking. Demand side, high-grade NPI prices are fluctuating downward, stainless steel market sentiment is sluggish, and domestic iron plants have lowered their purchasing price intentions. Regarding ocean freight rates, following last week's decline due to reduced shipping pressure and the shift of loading locations to the north, this week's ocean freight rates remained stable. Looking ahead, Philippine nickel oreFOBprices are expected to remain temporarily stable with a slight downward trend, as the market awaits transactions after the“Double Holidays”.
Indonesian Domestic Trade Laterite Nickel Ore Prices Remain Stable with a Slight Downward Trend Market Awaits Policy Signals
From a transaction perspective: Entering the new year, some local mines in Indonesia need to addressMOMSsystem updates, and no transaction information is available in the market. On the demand side, although local smelting enterprises in Indonesia have raw material inventories sufficient for 1-2 months, pre-holiday restocking demand is still expected to emerge. Regarding price trends: In the first week of the new year, SMMIndonesian laterite nickel oreCIFandFOBprices remained temporarily stable, with upstream and downstream negotiations at a stalemate. The imbalance between the supply tightness expected due to policy impacts and the continued downward trend in high-grade NPI prices has led to persistent market caution. According toSMM, the impact of theMOMSsystem updates may be resolved within one to two weeks, and the market will continue to focus on changes in local Indonesian policies. Overall, Indonesian domestic trade ore prices and premiums are expected to decline due to the downward trend in high-grade NPI prices, but policies still have significant influence on nickel ore prices.
