Nickel futures are trading around $17,200, falling from March highs near $17,770, reflecting ongoing structural tightness in the market and cautious investor sentiment. Supply remains constrained as Indonesia advances its proposed export tax on nickel, while disruptions to shipping through the Strait of Hormuz add logistical pressure on key raw materials. On the corporate front, Vale Base Metals reported a 13% increase in its nickel reserves and resources in 2025, supporting medium-term supply potential, while regional collaboration through the IndoPhil Nickel Corridor aims to strengthen integrated, resilient supply chains. Demand fundamentals remain robust, driven by growth in electric vehicle batteries, renewable energy storage, and industrial applications. China continues to account for a significant share of exports, while diversification efforts across Asia underscore the strategic importance of nickel in global critical mineral markets.

Nickel traded flat at 17,100 USD/T on April 3, 2026. Over the past month, Nickel's price has fallen 2.56%, but it is still 16.80% 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 April 4 of 2026.

Nickel traded flat at 17,100 USD/T on April 3, 2026. Over the past month, Nickel's price has fallen 2.56%, but it is still 16.80% 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 17924.26 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 18662.78 in 12 months time.



Price Day Month Year Date
Coal 137.90 0.70 0.51% -0.07% 38.73% Apr/02
Bitumen 4,403.00 118.00 2.75% 21.80% 30.42% Apr/03
Cobalt 56,290.00 0 0% 0% 65.92% Apr/02
Lead 1,937.10 -7.25 -0.37% -0.28% -1.01% Apr/02
Aluminum 3,468.50 -55.30 -1.57% 5.83% 41.22% Apr/02
Tin 46,277.00 -1085 -2.29% -5.25% 23.95% Apr/02
Zinc 3,263.10 -43.40 -1.31% -0.30% 20.18% Apr/02
Nickel 17,100.00 0 0% -2.56% 16.80% Apr/03
Molybdenum 540.00 5.00 0.93% 0.93% 19.60% Apr/03
Palladium 1,507.50 13.00 0.87% -9.41% 65.21% Apr/02
Gallium 2,125.00 0 0% 17.73% 19.72% Apr/03
Germanium 16,250.00 250 1.56% 9.06% 5.52% Apr/03
Manganese 37.45 0 0% 13.66% 19.84% Apr/03
Indium 4,250.00 0 0% -10.53% 47.83% Apr/03
Soda Ash 1,212.00 0 0% 2.02% -15.48% Apr/03
Neodymium 995,000.00 20000 2.05% -11.56% 77.36% Apr/03
Tellurium 780.00 5.00 0.65% 0.65% 6.12% Apr/03
Rhodium 10,100.00 0 0% -15.48% 79.56% Apr/02


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
17100.00 17100.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Futures Fall Amid Market Caution
Nickel futures are trading around $17,200, falling from March highs near $17,770, reflecting ongoing structural tightness in the market and cautious investor sentiment. Supply remains constrained as Indonesia advances its proposed export tax on nickel, while disruptions to shipping through the Strait of Hormuz add logistical pressure on key raw materials. On the corporate front, Vale Base Metals reported a 13% increase in its nickel reserves and resources in 2025, supporting medium-term supply potential, while regional collaboration through the IndoPhil Nickel Corridor aims to strengthen integrated, resilient supply chains. Demand fundamentals remain robust, driven by growth in electric vehicle batteries, renewable energy storage, and industrial applications. China continues to account for a significant share of exports, while diversification efforts across Asia underscore the strategic importance of nickel in global critical mineral markets.
2026-03-31
Nickel Futures Rise from Over 1-Month Low
Nickel futures rose to around $17,300 per tonne, rebounding from a recent over one-month low, amid renewed hopes for a temporary de-escalation in the Middle East conflict. The US proposed a one-month ceasefire to Iran, boosting risk sentiment and triggering short-term gains in industrial metals markets. On the supply front, Nickel Industries received approval for 14.3 million wet metric tonnes of 2026 nickel ore sales in Indonesia, providing clarity for both domestic and export supply, underpinning futures prices. Meanwhile, the market remains cautious over potential windfall taxes on nickel in Indonesia, which could affect output and costs. Chinese liquidity support helped bolster sentiment, as the People’s Bank of China conducted a 500 billion yuan medium-term lending facility operation. Overall, nickel remains in a sensitive range, with prices fluctuating amid supply reassurances and lingering geopolitical risks.
2026-03-25
Nickel Futures Hit Over 1-Month Low
Nickel futures slid to around $17,000 per tonne in March, hitting its weakest level in over a month, amid rising global risk aversion as Middle East tensions lifted oil prices and reinforced inflation concerns. The shift has supported a stronger US dollar and tempered expectations for near-term Federal Reserve rate cuts, adding broad downside pressure across industrial metals. At the same time, the conflict has exposed vulnerabilities in the nickel supply chain, particularly for battery-grade materials, as processing relies heavily on sulfur inputs linked to Middle Eastern trade routes. Prolonged disruptions could raise costs for high-pressure acid leach (HPAL) operations, increasing price volatility even without direct ore shortages. Meanwhile, in Indonesia, supply risks have also intensified after authorities halted operations at a nickel processing facility in Morowali following a fatal landslide, adding to ongoing regulatory scrutiny and production uncertainty.
2026-03-19