Actual
16165
Daily Change
-220.00 -1.34%
Monthly
-4.38%
Yearly
5.48%
Q3 Forecast
16375
Nickel - Summary

Nickel traded around $16,150 per tonne, extending losses as ample availability continued to weigh on prices. Philippine ore shipments have helped offset tighter domestic ore availability in Indonesia, partly easing the impact of the country’s lower 2026 nickel ore quota. Additionally, LME on-warrant inventories rose to 278,898 tonnes by September 24 from an August low of 264,444 tonnes, reinforcing the picture of ample supply. Meanwhile, Indonesia’s 2026 nickel ore quota remains below the roughly 315 million tonnes needed to operate its processing capacity at full rates. Production cuts at the Morowali Industrial Park due to water shortages could also affect around 100,000 tonnes of nickel pig iron output, potentially tightening supply.

Nickel - Stats

Nickel fell to 16,165 USD/T on September 28, 2026, down 1.34% from the previous day. Over the past month, Nickel's price has fallen 4.38%, but it is still 5.48% higher 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 28 of 2026.

Nickel - Forecast

Nickel fell to 16,165 USD/T on September 28, 2026, down 1.34% from the previous day. Over the past month, Nickel's price has fallen 4.38%, but it is still 5.48% higher 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 16374.58 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 17735.61 in 12 months time.



Price Day Month Year Date
Coal 143.75 0.25 0.17% 9.52% 35.10% Sep/25
Bitumen 5,156.00 -100.00 -1.90% 10.57% 49.93% Sep/28
Cobalt 39,640.00 0 0% -29.58% 13.26% Sep/25
Lead 1,910.18 -32.00 -1.65% -0.49% -4.46% Sep/28
Aluminum 3,251.85 -29.65 -0.90% -0.81% 21.38% Sep/28
Tin 54,348.00 338 0.63% -0.87% 57.52% Sep/25
Zinc 3,859.85 -46.05 -1.18% -1.23% 31.06% Sep/28
Nickel 16,165.00 -220 -1.34% -4.38% 5.48% Sep/28
Molybdenum 620.50 0 0% 0.49% 22.27% Sep/28
Palladium 1,223.00 -53.00 -4.15% -11.28% -3.70% Sep/28
Gallium 1,740.00 -10.00 -0.57% -2.52% 4.50% Sep/28
Germanium 27,250.00 0 0% 6.86% 91.23% Sep/28
Manganese 28.85 0 0% 0.35% -3.35% Sep/28
Indium 5,250.00 0 0% -1.87% 107.92% Sep/28
Soda Ash 1,050.00 0 0% 0.96% -11.17% Sep/28
Neodymium 947,500.00 0 0% -0.79% 20.70% Sep/28
Tellurium 798.50 0 0% 0.13% 34.20% Sep/28
Rhodium 9,350.00 0 0% 3.31% 31.23% Sep/28


Nickel
Nickel is mainly used in the production of stainless steel and other alloys and can be found in food preparation equipment, mobile phones, medical equipment, transport, buildings, power generation. The biggest producers of nickel are Indonesia, the Philippines, Russia, New Caledonia, Australia, Canada, Brazil, China and Cuba. Nickel futures are available for trading in The London Metal Exchange (LME). The standard contact has a weight of 6 tonnes. The nickel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our nickel prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
16165.00 16385.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Extends Decline Amid Ample Supply
Nickel traded around $16,150 per tonne, extending losses as ample availability continued to weigh on prices. Philippine ore shipments have helped offset tighter domestic ore availability in Indonesia, partly easing the impact of the country’s lower 2026 nickel ore quota. Additionally, LME on-warrant inventories rose to 278,898 tonnes by September 24 from an August low of 264,444 tonnes, reinforcing the picture of ample supply. Meanwhile, Indonesia’s 2026 nickel ore quota remains below the roughly 315 million tonnes needed to operate its processing capacity at full rates. Production cuts at the Morowali Industrial Park due to water shortages could also affect around 100,000 tonnes of nickel pig iron output, potentially tightening supply.
2026-09-28
Nickel Extends Gains on Indonesia Supply Cut
Nickel traded around $16,550 per tonne, as concerns over supply disruptions in Indonesia emerged. Smelters at the Morowali Industrial Park will cut nickel pig iron production due to an El Niño-driven water shortage, with the affected output potentially reaching around 100,000 tonnes, pointing to tighter supply and helping limit further downside. However, concerns persisted that Indonesia’s production curbs may not be enough to prevent a surplus, as higher quota allocations for some operators and rising imports of Philippine nickel ore have helped processors adjust to lower domestic ore availability. The near-term outlook was also constrained by weak Chinese downstream demand, while elevated exchange inventories continued to weigh on prices, with LME and Shanghai Exchange stocks reaching around 478,000 tonnes, equivalent to roughly seven weeks of global consumption.
2026-09-22
Nickel Rebounds From 8-Month Low
Nickel traded around $16,400 per tonne, rebounding from its lowest level in eight months as the recent decline attracted some buying interest. The move marked a technical recovery following the recent selloff. However, the near-term outlook remained constrained by weak Chinese downstream demand, with nickel salt procurement and spot stockpiling subdued while some precursor producers reduced operating rates. Additionally, Indonesia’s revised nickel ore benchmark price formula sharply lowered the HPM for low-grade 1.2% nickel ore to around $24.89 per wet tonne, nearly halving the previous level, which could reduce feedstock costs for HPAL plants and encourage greater use of low-grade reserves. High inventories across the nickel supply chain also pointed to ongoing destocking, limiting the scope for a sustained recovery despite the latest price rebound.
2026-09-17