Actual
15865
Daily Change
-130.00 -0.81%
Monthly
-4.02%
Yearly
3.52%
Q4 Forecast
16091
Nickel - Summary

Nickel traded around $15,900 per tonne, reversing recent gains as persistent global oversupply and subdued demand continued to constrain prices. Indonesia’s rapid expansion of nickel production has kept supply ample, while weaker stainless steel demand and the growing use of lithium iron phosphate batteries have limited consumption growth. The International Nickel Study Group expects the global surplus to widen in 2027, reinforcing the longer-term supply overhang. Meanwhile, reports of coordinated production cuts at Chinese-operated Indonesian smelters have raised hopes of tighter supply, with producers reportedly considering halving mixed hydroxide precipitate (MHP) output and cutting nickel pig iron production by 20%. Although the scale and timing of the measures remain uncertain, losses among Indonesian MHP producers strengthen the incentive to curb output, potentially tightening supply if the cuts are implemented.

Nickel - Stats

Nickel fell to 15,846 USD/T on October 23, 2026, down 0.93% from the previous day. Over the past month, Nickel's price has fallen 4.14%, but it is still 3.40% 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 54050.00 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on October 25 of 2026.

Nickel - Forecast

Nickel fell to 15,846 USD/T on October 23, 2026, down 0.93% from the previous day. Over the past month, Nickel's price has fallen 4.14%, but it is still 3.40% 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 16091.44 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 17186.57 in 12 months time.



Price Day Month Year Date
Coal 150.70 -0.45 -0.30% 5.02% 44.76% Oct/23
Bitumen 4,868.00 220.00 4.73% -7.38% 46.10% Oct/23
Cobalt 34,620.00 0 0% -12.66% -28.72% Oct/22
Lead 1,914.58 10.15 0.53% -1.33% -5.24% Oct/23
Aluminum 3,047.30 37.85 1.26% -6.41% 6.55% Oct/23
Tin 50,089.00 -1159 -2.26% -7.07% 40.02% Oct/22
Zinc 3,748.20 71.75 1.95% -5.75% 23.96% Oct/23
Nickel 15,865.00 -130 -0.81% -4.02% 3.52% Oct/23
Molybdenum 603.50 -2.00 -0.33% -2.74% 18.92% Oct/23
Palladium 1,051.50 -5.00 -0.47% -17.98% -28.15% Oct/23
Gallium 1,740.00 0 0% -0.57% 2.65% Oct/23
Germanium 28,500.00 0 0% 4.59% 100.00% Oct/23
Manganese 28.75 -0.10 -0.35% -0.35% -3.04% Oct/23
Indium 4,700.00 -50 -1.05% -10.48% 86.14% Oct/23
Soda Ash 1,025.00 0 0% -2.38% -13.58% Oct/23
Neodymium 942,500.00 0 0% -0.53% 39.63% Oct/23
Tellurium 798.50 0 0% 0% 23.80% Oct/23
Rhodium 9,150.00 50 0.55% -3.17% 13.66% Oct/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. 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
15846.00 15995.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Retreats on Persistent Oversupply
Nickel traded around $15,900 per tonne, reversing recent gains as persistent global oversupply and subdued demand continued to constrain prices. Indonesia’s rapid expansion of nickel production has kept supply ample, while weaker stainless steel demand and the growing use of lithium iron phosphate batteries have limited consumption growth. The International Nickel Study Group expects the global surplus to widen in 2027, reinforcing the longer-term supply overhang. Meanwhile, reports of coordinated production cuts at Chinese-operated Indonesian smelters have raised hopes of tighter supply, with producers reportedly considering halving mixed hydroxide precipitate (MHP) output and cutting nickel pig iron production by 20%. Although the scale and timing of the measures remain uncertain, losses among Indonesian MHP producers strengthen the incentive to curb output, potentially tightening supply if the cuts are implemented.
2026-10-23
Nickel Extends Gains
Nickel traded around $16,300 per tonne, extending its rebound amid short-covering and prospects of coordinated production cuts in Indonesia. Major Chinese producers are expected to discuss output cuts at their Indonesian operations, raising hopes of tighter supply after August talks failed. However, the broader outlook remains weighed down by persistent oversupply, despite tighter Indonesian mining quotas. The International Nickel Study Group projected a 19,000-tonne global surplus in 2026, reversing its previous forecast of a 32,000-tonne deficit, with the surplus expected to widen to 70,000 tonnes in 2027. Additionally, slower-than-expected growth in battery demand, partly due to competition from lithium iron phosphate chemistries, adds to concerns that supply growth will continue to outpace consumption. The rebound's sustainability will depend on whether proposed production cuts translate into meaningful reductions in actual output.
2026-10-21
Nickel Rebounds From Near 10-Month Low
Nickel traded around $15,900 per tonne, rebounding from its lowest level in nearly ten months as traders closed short positions following the recent decline. At the same time, easing US Treasury yields reduced concerns over tighter financial conditions, offering modest relief to commodity prices. However, high inventories, weak stainless steel demand and increased Indonesian ore supply continued to weigh on the outlook. Indonesia’s lower October nickel ore benchmarks and plans to increase production under supplementary mining quotas reinforced expectations of ample supply. The International Nickel Study Group also projected a 19,000-tonne global surplus in 2026, reversing its previous deficit forecast, with the surplus expected to widen to 70,000 tonnes in 2027. Reduced smelter purchasing further underscored weak underlying demand.
2026-10-19