Shanghai Futures Exchange nickel ended up 2.9 percent at 84,690 yuan ($12,329.13) a tonne on Friday, but other metals were weaker. Shanghai copper fell 2.2 percent to 46,760 yuan a tonne, ShFE zinc and tin were both down 1 percent and lead declined 2 percent.
China's central bank surprised financial markets on Friday by raising short-term interest rates on the first day back from a long holiday, in a further sign of a tightening policy bias as the economy shows signs of steadying.
China's factory activity expanded for the seventh straight month in January, giving Beijing more room to tackle chronic imbalances in the economy, though the rate of growth slowed from December, a private survey showed on Friday.
The Philippines ordered the closure of 23 mines, mainly nickel producers, as part of a government campaign to fight environmental degradation by the industry.
"The net impact is that we should see the nickel market tighten even further in 2017," ANZ said in a report.
"We believe the market to-date has not fully priced in the risk of supply disruptions in the nickel and copper markets. This should see prices well supported in the short term."
The Philippines mine closures will offset the recent Indonesian decision to lift a ban on exports of nickel and copper ore and concentrates that could add 150,000 tonnes of nickel to the market, ANZ said.
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