Nickel futures rose to around $17,500 per tonne, reversing from a recent over one-month low amid steady demand from EV battery production and stainless steel manufacturing. The renewed interest comes after markets adjusted to Indonesia’s 2026 nickel ore quota cuts announced in early February, which reduced permitted output compared with 2025 and initially triggered a sharp rally before profit-taking set in. Consumption trends in China, particularly from the EV sector, continue to provide a stable demand base, reinforcing near-term pricing. Market participants are also monitoring industrial activity and regional ore allocations, which could further influence the supply-demand outlook in the coming months. While the market is still sensitive to Indonesian policy, prices remain tempered by ample global supply and limitations in refining capacity, which could weigh on further gains if these factors persist.

Nickel rose to 17,557.63 USD/T on February 23, 2026, up 0.70% from the previous day. Over the past month, Nickel's price has fallen 5.55%, but it is still 14.20% 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 February 23 of 2026.

Nickel rose to 17,557.63 USD/T on February 23, 2026, up 0.70% from the previous day. Over the past month, Nickel's price has fallen 5.55%, but it is still 14.20% 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 17581.49 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 18864.67 in 12 months time.



Price Day Month Year Date
Coal 116.20 0.05 0.04% 6.26% 13.92% Feb/20
Cobalt 56,290.00 0 0% 0% 161.21% Feb/20
Lead 1,967.23 -2.00 -0.10% -3.52% -1.06% Feb/23
Aluminum 3,103.50 1.60 0.05% -3.00% 16.84% Feb/23
Tin 46,559.00 919 2.01% -5.77% 39.41% Feb/20
Zinc 3,384.95 7.00 0.21% 0.90% 18.76% Feb/23
Nickel 17,554.88 120 0.69% -5.57% 14.18% Feb/23
Palladium 1,780.50 0.50 0.03% -18.68% 90.53% Feb/23
Soda Ash 1,182.00 0 0% -2.15% -16.76% Feb/20
Rhodium 11,175.00 0 0% 5.42% 139.04% Feb/23


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. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
17557.63 17435.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Futures Rise from Over 1-Month Low
Nickel futures rose to around $17,500 per tonne, reversing from a recent over one-month low amid steady demand from EV battery production and stainless steel manufacturing. The renewed interest comes after markets adjusted to Indonesia’s 2026 nickel ore quota cuts announced in early February, which reduced permitted output compared with 2025 and initially triggered a sharp rally before profit-taking set in. Consumption trends in China, particularly from the EV sector, continue to provide a stable demand base, reinforcing near-term pricing. Market participants are also monitoring industrial activity and regional ore allocations, which could further influence the supply-demand outlook in the coming months. While the market is still sensitive to Indonesian policy, prices remain tempered by ample global supply and limitations in refining capacity, which could weigh on further gains if these factors persist.
2026-02-19
Nickel Futures Hit Over 1-Month Low
Nickel futures slipped to around $16,900 per tonne, reversing gains from the previous session and marking the lowest level in over a month, as traders booked profits following a recent rally. Prices had climbed toward $18,000 last week following Indonesia’s sharp output cut at PT Weda Bay Nickel, the world’s largest nickel mine in Indonesia, which contributed to a recent surge amid supply-tightening expectations. However, some investors began reassessing the scale and timing of the production restrictions, while speculators squared positions, contributing to the pullback. Additional pressure came from broader base-metals weakness, with copper and aluminum also sliding amid softer global equities and US labor data that dampened hopes of near-term interest rate cuts. Meanwhile, seasonal demand in China ahead of the Lunar New Year slowed physical trading activity, further limiting market support. Market participants continue to watch for supply signals.
2026-02-16
Nickel Rises Toward 19-Month High
Nickel futures surged to $17,900 per tonne in February, regaining ground after a speculative rally lifted futures to the 19-month high of $18,785 earlier this year, amid the outlook of tight supply. The Indonesian government announced that the quotas fore nickel ore production would be cut by more than 100 million tonnes from the previous year to a cap of 270 million in 2026. This followed statements from major miners in the Weda Bay area that production will see aggressive pullbacks, consolidating Jakarta's move and erasing chances that mining giants would still negotiate higher quotas due to the historical ambiguity on caps to wet tons. Previously, Indonesian authorities had also signaled they would crack down on illegal mining activities, magnifying the impact of lower supply. Elsewhere, prices continued to be supported by commodity funds as nickel's utility in datacenters and electrification technologies made it a proxy to bets on AI that have gained speculative ground.
2026-02-12