Actual
16318
Daily Change
-207.00 -1.25%
Monthly
-2.58%
Yearly
5.79%
Q3 Forecast
16498
Nickel - Summary

Nickel traded around $16,400 per tonne, falling to its lowest level since July, as prospects for increased Indonesian supply weighed on prices. Indonesia’s Weda Bay Nickel, one of the world’s largest nickel mining operations, restarted mining after four months of care and maintenance, potentially bringing additional ore supply back to the market, although the ramp-up will be gradual and production volumes for the remainder of the year remain uncertain. Additionally, Indonesia’s 2026 mining quota was set at 250–260 million wet tonnes, below 379 million tonnes in 2025, limiting the scope for higher Indonesian ore supply. At the same time, the US 10-year yield approached 5%, while the dollar index climbed above 99, weighing on base metals broadly. Meanwhile, cuts to Chinese HPAL and MHP output have tightened intermediate supply, providing a countervailing factor to the Indonesian supply outlook.

Nickel - Stats

Nickel fell to 16,302.75 USD/T on September 14, 2026, down 1.34% from the previous day. Over the past month, Nickel's price has fallen 2.67%, but it is still 5.69% 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 September 14 of 2026.

Nickel - Forecast

Nickel fell to 16,302.75 USD/T on September 14, 2026, down 1.34% from the previous day. Over the past month, Nickel's price has fallen 2.67%, but it is still 5.69% 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 16498.13 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 17800.51 in 12 months time.



Price Day Month Year Date
Coal 146.75 -1.25 -0.84% 13.32% 45.73% Sep/11
Bitumen 5,270.00 102.00 1.97% 24.23% 53.69% Sep/14
Cobalt 42,380.00 -560 -1.30% -24.71% 27.13% Sep/11
Lead 1,875.70 -17.23 -0.91% -0.80% -6.35% Sep/14
Aluminum 3,242.00 -14.65 -0.45% -0.54% 19.91% Sep/14
Tin 53,364.00 -980 -1.80% -4.40% 52.58% Sep/11
Zinc 3,785.15 -80.40 -2.08% 0.65% 27.11% Sep/14
Nickel 16,313.75 -211 -1.28% -2.60% 5.76% Sep/14
Molybdenum 617.50 0 0% 0% 18.75% Sep/14
Palladium 1,296.50 -27.50 -2.08% -3.03% 7.77% Sep/14
Gallium 1,760.00 -15.00 -0.85% -3.03% 9.66% Sep/14
Germanium 26,500.00 0 0% 8.16% 84.03% Sep/14
Manganese 29.05 0 0% 1.04% -2.02% Sep/14
Indium 5,300.00 0 0% -3.64% 109.90% Sep/14
Soda Ash 1,050.00 0 0% 1.94% -11.47% Sep/14
Neodymium 955,000.00 0 0% 0% 21.66% Sep/14
Tellurium 797.50 0 0% -0.93% 36.32% Sep/14
Rhodium 9,675.00 -50 -0.51% 9.94% 35.79% Sep/14


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
16302.75 16525.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Falls to 2-Month Low
Nickel traded around $16,400 per tonne, falling to its lowest level since July, as prospects for increased Indonesian supply weighed on prices. Indonesia’s Weda Bay Nickel, one of the world’s largest nickel mining operations, restarted mining after four months of care and maintenance, potentially bringing additional ore supply back to the market, although the ramp-up will be gradual and production volumes for the remainder of the year remain uncertain. Additionally, Indonesia’s 2026 mining quota was set at 250–260 million wet tonnes, below 379 million tonnes in 2025, limiting the scope for higher Indonesian ore supply. At the same time, the US 10-year yield approached 5%, while the dollar index climbed above 99, weighing on base metals broadly. Meanwhile, cuts to Chinese HPAL and MHP output have tightened intermediate supply, providing a countervailing factor to the Indonesian supply outlook.
2026-09-11
Nickel Extends Gains
Nickel traded around $16,850 per tonne, extending gains from the previous session and tracking broader strength across industrial metals. Copper prices remained near fresh record highs, reinforcing the continued strength seen across the industrial metals sector. Battery-sector demand also showed signs of improvement, with recycled nickel sulphate production rising nearly 6% month-on-month in August, driven by stronger ternary cathode precursor demand and a relatively high share of high-nickel products. Meanwhile, elevated nickel inventories and subdued stainless steel demand continued to cap the upside, keeping gains in check despite the broader recovery across metals. Rising rate-hike expectations also weighed on dollar-priced commodities.
2026-09-10
Nickel Falls on Weak Demand, Elevated Stocks
Nickel traded below $16,700 per tonne, remaining under pressure as elevated inventories and weak downstream demand weighed on prices. LME warehouse stocks were around 271,000 tonnes in early September, while soft stainless steel demand continued to weigh on nickel consumption. Indonesia’s 2026 nickel ore quota was cut to 260–270 million tonnes from 379 million in 2025, but Philippine ore imports reached 11.4 million tonnes in January-July, up from 6.82 million a year earlier, helping keep Indonesian smelters supplied and offsetting some of the impact of the lower quota. Moreover, stronger US jobs data lifted expectations for a September Fed rate hike, keeping higher yields and a stronger dollar as additional headwinds for nickel. Meanwhile, lower cobalt payables for Indonesian MHP are squeezing HPAL margins and could prompt higher-cost producers to reduce output, offering some medium-term supply support.
2026-09-07