Nickel futures fell to around $17,200 per tonne in March, extending losses and following a broad pullback in other industrial metals as rising Middle East tensions fuel risk-off sentiment in manufacturing markets. Brent crude’s surge and a stronger dollar added pressure on industrial commodities, prompting investors to trim exposure to cyclical metals. On the supply side, Indonesian refiners reliant on Middle Eastern sulfur, roughly 75% of their needs, could face rising costs and potential production cuts if shipping disruptions persist, which may tighten input availability and pressure operations. Meanwhile, on the demand side, Chinese steel mills boosted high-grade NPI tender prices, signaling firm demand that may help limit further downside. Additionally, Indonesia’s 2026 ore quota of 260 to 270 million wet metric tons constrains full utilization of the country’s 2.7 million ton RKEF and HPAL capacity, with processing utilization expected to drop to 70-75% this year.

Nickel fell to 17,320 USD/T on March 13, 2026, down 2.50% from the previous day. Over the past month, Nickel's price has risen 1.05%, and is up 4.65% 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 March 15 of 2026.

Nickel fell to 17,320 USD/T on March 13, 2026, down 2.50% from the previous day. Over the past month, Nickel's price has risen 1.05%, and is up 4.65% 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 17386.74 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 18776.61 in 12 months time.



Price Day Month Year Date
Coal 137.30 -1.45 -1.05% 18.11% 36.28% Mar/13
Bitumen 4,235.00 176.00 4.34% 26.12% 20.28% Mar/13
Cobalt 56,290.00 0 0% 0% 67.70% Mar/12
Lead 1,894.98 -43.85 -2.26% -2.97% -8.67% Mar/13
Aluminum 3,420.00 -99.35 -2.82% 12.30% 27.52% Mar/13
Tin 49,388.00 -259 -0.52% 5.75% 37.57% Mar/12
Zinc 3,290.30 -26.20 -0.79% -0.01% 10.45% Mar/13
Nickel 17,320.00 -445 -2.50% 1.05% 4.65% Mar/13
Molybdenum 535.00 0 0% 3.88% 17.84% Mar/13
Palladium 1,580.00 -68.00 -4.13% -10.63% 65.01% Mar/13
Gallium 1,975.00 0 0% 9.42% 8.22% Mar/13
Germanium 15,250.00 0 0% 5.17% 0.99% Mar/13
Manganese 33.95 0 0% 7.61% 12.23% Mar/13
Indium 4,750.00 0 0% 6.74% 58.33% Mar/13
Soda Ash 1,212.00 10.00 0.83% 2.54% -19.84% Mar/13
Neodymium 1,085,000.00 0 0% -5.24% 93.06% Mar/13
Tellurium 775.00 0 0% 1.97% 8.39% Mar/13
Rhodium 11,500.00 0 0% 7.48% 119.05% Mar/13


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
17320.00 17765.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Futures Extend Losses on Risk-Off Flows
Nickel futures fell to around $17,200 per tonne in March, extending losses and following a broad pullback in other industrial metals as rising Middle East tensions fuel risk-off sentiment in manufacturing markets. Brent crude’s surge and a stronger dollar added pressure on industrial commodities, prompting investors to trim exposure to cyclical metals. On the supply side, Indonesian refiners reliant on Middle Eastern sulfur, roughly 75% of their needs, could face rising costs and potential production cuts if shipping disruptions persist, which may tighten input availability and pressure operations. Meanwhile, on the demand side, Chinese steel mills boosted high-grade NPI tender prices, signaling firm demand that may help limit further downside. Additionally, Indonesia’s 2026 ore quota of 260 to 270 million wet metric tons constrains full utilization of the country’s 2.7 million ton RKEF and HPAL capacity, with processing utilization expected to drop to 70-75% this year.
2026-03-09
Nickel Futures Slide Further
Nickel futures fell to around $17,200 per tonne in early March, tracking the pullback for other industrial metals as heightened geopolitical tensions in the Middle East triggered risk-off flows across the manufacturing sector. Iran’s threat to close the Strait of Hormuz drove oil prices sharply higher, strengthening the dollar and prompting investors to trim exposure to cyclical commodities. Market participants remain cautious, reacting to heightened risk sentiment. Meanwhile, on the supply side, Indonesia’s 2026 ore quota cap at 270 million wet metric tons and enforcement against illegal mining continue to limit tightness. New project ramp-ups, including PT Vale’s Pomalaa initial ore sales, signal steady feedstock availability. Firm Philippine ore offers support to upstream costs, but broader expansion in refined nickel output has restrained upside.
2026-03-03
Nickel Holds YTD Gain
Nickel futures were at $17,800 per tonne in late February, not far from their highest in one month and holding the metal's rally that broke through in December last year amid risks of tighter 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.
2026-02-26