SHANGHAI, January 11 (SMM) – Overnight, the most-traded SHFE nickel contract opened at 125110 yuan/mt, and closed at 124920 yuan/mt, down 830 yuan/mt. Trading volume fell by 37275 lots, and open interest decreased by 1847 lots. From a macro perspective, we still need to pay attention to the U.S. non-seasonally adjusted CPI annual rate for December and the U.S. interest rate meeting on February 1. This will be the first interest rate meeting in 2024. From a fundamental perspective, pure nickel warrants were destocked slightly yesterday, with decline mainly contributed by Kaohsiung. Nickel price is expected to inch lower.
![[SMM revue de midi sur le nickel] Les prix du nickel ont fortement rebondi le 3 septembre. Les données ADP sur l'emploi américain d'août ont été étonnamment faibles, refroidissant légèrement les paris sur une hausse des taux en septembre.](https://imgqn.smm.cn/usercenter/qLeLR20251217171733.jpg)

![[SMM Revue quotidienne du sulfate de nickel] Le marché au comptant est atone le 3 septembre, les prix du sulfate de nickel sont stables](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
