This week, the nickel market exhibited a notable feature of "divergence between macro expectations and fundamentals." Domestic policies aimed at combating "rat race" competition provided a temporary boost to market sentiment. The most-traded SHFE nickel contract opened at 120,330 yuan/mt at the beginning of the week and closed at 124,360 yuan/mt on Friday, marking a weekly increase of 3.35%. LME nickel was last quoted at $15,520/mt, with a weekly gain of 1.80%.