Overnight, the most-traded SHFE nickel contract opened at 130000 yuan/mt, and closed at 129780 yuan/mt, up 130 yuan/mt. Trading volume rose 28359 lots, and open interest decreased by 34389 lots. The inflation indicator favoured by the Federal Reserve will be released on Friday, and traders' expectations for a March interest rate cut have "cooled". In addition, the Bank of Japan stated at the meeting that it will continue to maintain ultra-loose monetary policy. LME nickel inventory fell slightly by 96 mt. Nickel price is expected to swing on a strong note.
![[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)
