Actual
16673
Daily Change
-201.62 -1.19%
Monthly
-2.72%
Yearly
8.23%
Q3 Forecast
16844
Nickel - Summary

Nickel traded around $16,800 per tonne in late August, extending losses from the previous session, as continuous refined-nickel inventory surpluses and weak Chinese demand continued to weigh on prices. LME nickel inventories rose 0.8% in August to 268,314 tonnes, while Chinese stainless-steel futures fell below CNY 14,000, pointing to continued weakness in a key end-use sector. Additionally, the Philippines’ new critical-minerals framework aims to accelerate mineral exploration, processing and downstream investment, potentially supporting future nickel supply. Meanwhile, Indonesia’s 2026 nickel ore quota stands at 260–270 million tonnes, well below the 379 million tonnes approved for 2025, pointing to tighter supply, although the possibility of additional quotas for smelters facing raw-material shortages could limit gains. Nickel is on track to fall roughly 2% in August and remains up more than 1% year to date.

Nickel - Stats

Nickel fell to 16,770 USD/T on August 28, 2026, down 0.62% from the previous day. Over the past month, Nickel's price has fallen 2.16%, but it is still 8.86% 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 August 29 of 2026.

Nickel - Forecast

Nickel fell to 16,770 USD/T on August 28, 2026, down 0.62% from the previous day. Over the past month, Nickel's price has fallen 2.16%, but it is still 8.86% 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 16843.84 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 18112.78 in 12 months time.



Price Day Month Year Date
Coal 139.75 0.25 0.18% 7.33% 27.51% Aug/28
Bitumen 4,610.00 84.00 1.86% 11.22% 32.05% Aug/28
Cobalt 56,290.00 0 0% 0% 68.86% Aug/27
Lead 1,907.73 0 0% 0.17% -4.50% Aug/28
Aluminum 3,245.45 0.0001 0% 2.10% 23.87% Aug/28
Tin 55,354.00 527 0.96% 3.31% 59.05% Aug/27
Zinc 3,857.80 -0.0001 0% 7.89% 36.48% Aug/28
Nickel 16,673.38 -202 -1.19% -2.72% 8.23% Aug/28
Molybdenum 617.50 -5.00 -0.80% 0% 18.75% Aug/28
Palladium 1,426.00 87.00 6.50% 13.85% 28.93% Aug/28
Gallium 1,785.00 -10.00 -0.56% -3.77% 11.22% Aug/28
Germanium 25,500.00 0 0% 7.37% 77.08% Aug/28
Manganese 28.75 0 0% -1.71% -3.04% Aug/28
Indium 5,350.00 0 0% -2.73% 111.88% Aug/28
Soda Ash 1,030.00 0 0% -6.36% -14.88% Aug/28
Neodymium 955,000.00 -2500 -0.26% -3.54% 21.66% Aug/28
Tellurium 797.50 -7.50 -0.93% -1.85% 36.32% Aug/28
Rhodium 8,850.00 25 0.28% 7.27% 23.78% Aug/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
16770.00 16875.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Falls Amid Weak Fundamentals
Nickel traded around $16,800 per tonne in late August, extending losses from the previous session, as continuous refined-nickel inventory surpluses and weak Chinese demand continued to weigh on prices. LME nickel inventories rose 0.8% in August to 268,314 tonnes, while Chinese stainless-steel futures fell below CNY 14,000, pointing to continued weakness in a key end-use sector. Additionally, the Philippines’ new critical-minerals framework aims to accelerate mineral exploration, processing and downstream investment, potentially supporting future nickel supply. Meanwhile, Indonesia’s 2026 nickel ore quota stands at 260–270 million tonnes, well below the 379 million tonnes approved for 2025, pointing to tighter supply, although the possibility of additional quotas for smelters facing raw-material shortages could limit gains. Nickel is on track to fall roughly 2% in August and remains up more than 1% year to date.
2026-08-28
Nickel Recovers From Over One-Month Low
Nickel traded around $17,000 per tonne, recovering from an over one-month low as tighter Indonesian supply expectations provided support. Indonesia’s 2026 nickel ore quota remains at 260–270 million tonnes, well below the 379 million tonnes approved for 2025, pointing to tighter supply. Meanwhile, the government has indicated that additional quotas may be granted selectively to smelters facing raw-material shortages, raising the prospect of increased ore availability and limiting gains. At the same time, elevated LME and Chinese inventories continued to weigh on the market, pointing to ample refined nickel availability. Indonesia is also preparing to launch a strategic minerals and commodities exchange in January 2027, potentially including nickel, as Jakarta seeks greater influence over domestic commodity pricing.
2026-08-21
Nickel Falls to Over 1-Month Low
Nickel traded around $16,750 per tonne in August, retreating to its lowest level since early July as expectations of improved Indonesian supply weighed on prices. The decline followed reports that Indonesia may further relax supplementary RKAB nickel ore quotas, with a major miner expected to receive additional allocations that would significantly increase its 2026 allocation and support downstream smelter feedstock availability in the second half of the year. Prices also came under pressure as easing concerns over potential disruptions in the Strait of Hormuz reduced sulfur costs, lowering input cost pressures for nickel processing. Meanwhile, expectations that Indonesia will continue to manage nickel ore supply through RKAB quotas, along with elevated production costs, continued to provide some support.
2026-08-06