Overnight, the most-traded SHFE nickel contract opened at 138430 yuan/mt, and closed at 138240 yuan/mt, down 1390 yuan/mt. Trading volume fell by 70812 lots, and open interest decreased by 3135 lots. On the macro front, the Chairman of the Federal Reserve continued to be hawkish in his speech, but this did not affect the market's expectation that interest rates will remain unchanged in December. From a fundamentals perspective, the trend of pure nickel inventory accumulation remains unchanged, and downstream demand has not yet improved. Yesterday’s spot market transactions were still weak. Nickel price is expected to move rangebound.
![[SMM Tóm tắt cuộc họp buổi sáng về niken] Xác suất Fed Mỹ tăng lãi suất vào tháng 9 tăng lên 66,9%, hợp đồng niken SHFE được giao dịch nhiều nhất giảm nhẹ trong phiên giao dịch đầu ngày](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)


