On Wednesday, the most-traded SHFE nickel contract opened at 134,890 yuan/mt, and closed at 136,100 yuan/mt, up 1,560 yuan/mt compared with the last trading day. Trading volume fell by 95,085 lots to 184,585 lots, and open interest decreased by 2,602 lots to 54,981 lots. The most-traded SHFE nickel contract fluctuated downward to the lowest at 133,780 yuan/mt before rebounding. In the afternoon, it moved sideways, with the final decrease of 0.07%.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)

