Nickel futures rose to $15,450 per tonne in September, the highest since in one month, as output cutbacks momentarily eased the magnitude of oversupply from major producers. Nickel pig iron metal content output from Indonesia, the world's top producer, fell by 1.7% from the previous month in July as suspensions in selected smelters were delayed from being resumed. Prices rebounded but remained in tight range for the year, near their lowest since Indonesia blocked the export of ores in 2020. This drove the largest nickel consumers to establish refiners within Indonesia and capacity soared, leading to supply surpluses. The Indonesian government reduced nickel mining quotas by 120 million tons to 150 million this year, cutting global supply by 35% from current levels, although soft bidding prices throughout the year indicated that markets don't see constraints dampening the oversupplied backdrop.
Nickel fell to 15,184 USD/T on September 5, 2025, down 0.27% from the previous day. Over the past month, Nickel's price has risen 0.36%, but it is still 4.46% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Nickel reached an all time high of 54050 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on September 5 of 2025.
Nickel fell to 15,184 USD/T on September 5, 2025, down 0.27% from the previous day. Over the past month, Nickel's price has risen 0.36%, but it is still 4.46% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel is expected to trade at 15155.44 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 14431.40 in 12 months time.