Nickel futures traded above $18,750, hovering close to a more than three-month high of $18,775, with the market consolidating after a strong rally. The uptrend is underpinned by expectations of a tighter global balance, after the International Nickel Study Group projected a shift into a small market deficit in 2026, reversing this year’s surplus. The outlook reflects stronger demand growth relative to supply, supporting a firmer medium-term price tone. On the supply side, Indonesia continues to shape cost dynamics after revising its nickel ore benchmark pricing framework, lifting upstream cost floors by broadening input factors and raising base pricing assumptions. This has reinforced higher production costs and a firmer global cost curve. At the same time, pressures in Indonesia’s HPAL sector persist, with elevated input costs limiting processing flexibility for nickel intermediates used in battery materials, keeping supply tight in the near term.

Nickel rose to 19,125 USD/T on April 24, 2026, up 1.86% from the previous day. Over the past month, Nickel's price has risen 10.26%, and is up 23.47% compared to the same time last year, 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 24 of 2026.

Nickel rose to 19,125 USD/T on April 24, 2026, up 1.86% from the previous day. Over the past month, Nickel's price has risen 10.26%, and is up 23.47% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel is expected to trade at 18543.39 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 19727.34 in 12 months time.



Price Day Month Year Date
Coal 129.10 -3.70 -2.79% -7.62% 36.25% Apr/23
Bitumen 4,193.00 100.00 2.44% -4.79% 23.29% Apr/24
Cobalt 56,290.00 0 0% 0% 67.03% Apr/23
Lead 1,964.90 4.77 0.24% 2.70% 0.75% Apr/24
Aluminum 3,603.00 -16.52 -0.46% 11.02% 47.82% Apr/24
Tin 50,215.00 -207 -0.41% 13.51% 58.09% Apr/23
Zinc 3,476.45 13.45 0.39% 12.32% 31.16% Apr/24
Nickel 19,125.00 350 1.86% 10.26% 23.47% Apr/24
Molybdenum 565.00 5.00 0.89% 5.61% 25.14% Apr/24
Palladium 1,505.00 11.50 0.77% 5.02% 61.65% Apr/24
Gallium 2,075.00 0 0% 0% 16.90% Apr/24
Germanium 17,500.00 0 0% 9.38% 13.64% Apr/24
Manganese 34.05 -0.30 -0.87% -5.29% 10.73% Apr/24
Indium 4,250.00 0 0% -2.30% 57.41% Apr/24
Soda Ash 1,222.00 0 0% 0.83% -12.71% Apr/24
Neodymium 1,035,000.00 -30000 -2.82% 6.15% 100.58% Apr/24
Tellurium 780.00 0 0% 0.65% 5.41% Apr/24
Rhodium 10,050.00 -100 -0.99% -6.94% 86.98% Apr/24


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
19125.00 18775.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Futures Hover Near Multi-Month Highs
Nickel futures traded above $18,750, hovering close to a more than three-month high of $18,775, with the market consolidating after a strong rally. The uptrend is underpinned by expectations of a tighter global balance, after the International Nickel Study Group projected a shift into a small market deficit in 2026, reversing this year’s surplus. The outlook reflects stronger demand growth relative to supply, supporting a firmer medium-term price tone. On the supply side, Indonesia continues to shape cost dynamics after revising its nickel ore benchmark pricing framework, lifting upstream cost floors by broadening input factors and raising base pricing assumptions. This has reinforced higher production costs and a firmer global cost curve. At the same time, pressures in Indonesia’s HPAL sector persist, with elevated input costs limiting processing flexibility for nickel intermediates used in battery materials, keeping supply tight in the near term.
2026-04-24
Nickel Futures Climb Near 3-Month High
Nickel futures rose to around $18,500 per tonne, marking a near three-month high as cost pressures and supply constraints tightened market conditions. Jakarta has delivered a series of tightening signals, most recently revising Indonesia’s nickel ore benchmark pricing formula. The new framework now includes additional metals such as iron, cobalt, and chromium, while also raising the corrective factor used to set minimum ore prices. This lifts the cost floor for upstream production, feeding through to higher input costs for smelters and strengthening the global nickel cost curve. At the same time, supply-side strain in Indonesia’s HPAL sector added to upward pressure. Sulphur prices have surged above $800 per tonne, prompting some processors to trim output of nickel intermediates used in battery materials, tightening near-term availability. Overall, steady battery demand and resilient industrial consumption have helped absorb supply concerns, keeping nickel supported at elevated levels.
2026-04-14
Nickel Hits 4-week High
Nickel increased to 17635.00 USD/T, the highest since March 2026. Over the past 4 weeks, Nickel gained 0.76%, and in the last 12 months, it increased 14.62%.
2026-04-13