SHANGHAI, Mar. 2 (SMM) – On Thursday, SHFE 1705 nickel opened at RMB 91,440/mt and then advanced to RMB 91,740/mt. During the afternoon trading, SHFE 1705 nickel declined to RMB 90,620/mt and then stabilized. The contract closed at RMB 91,150/mt, up RMB 710/mt or 0.79%. Positions dropped.
SHFE 1705 nickel will hover at highs on Thursday’s night trading with support at the 10-day moving average.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)

