Overnight, the most-traded SHFE nickel contract opened at 130,850 yuan/mt, and closed at 132,590 yuan/mt, up 990 yuan/mt. Trading volume rose by 27,498 lots to 253,352 lots, and open interest decreased by 5,634 lots to 102,183 lots. The most-traded SHFE nickel contract rebounded after a lower opening. After falling to the intraday low of 130,840 yuan/mt, it closed up 1.96%.
![[SMM Nickel Midday Review] On March 3, nickel prices continued to retreat, and Iran claimed the Strait of Hormuz had been closed](https://imgqn.smm.cn/usercenter/yaAtG20251217171733.jpg)
![[SMM Nickel Intermediate Product Daily Review] On March 3, MHP and high-grade nickel matte prices declined](https://imgqn.smm.cn/usercenter/biBGl20251217171733.jpg)
