Actual
15530
Daily Change
-80.00 -0.51%
Monthly
-8.13%
Yearly
0.71%
Q4 Forecast
15832
Nickel - Summary

Nickel fell below $15,800 per tonne, hitting its lowest level since December 2025 as ample availability continued to weigh on prices. Philippine nickel ore shipments to Indonesia have increased in recent months, with the additional supply helping Indonesian smelters maintain feedstock access. Additionally, LME on-warrant inventories rose to 278,898 tonnes by September 24 from an August low of 264,444 tonnes, reinforcing comfortable stocks in the market. Demand has also struggled to keep pace with available supply, with nickel consumption still largely tied to stainless-steel production and battery demand providing only a limited offset. Meanwhile, Indonesia’s lower nickel ore quota remains below the roughly 315 million tonnes needed to run processing capacity at full rates, while water shortages have prompted some smelters at the Morowali Industrial Park to cut production, potentially affecting around 100,000 tonnes of nickel pig iron output.

Nickel - Stats

Nickel fell to 15,519.25 USD/T on October 2, 2026, down 0.07% from the previous day. Over the past month, Nickel's price has fallen 8.20%, but it is still 0.64% 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 4 of 2026.

Nickel - Forecast

Nickel fell to 15,519.25 USD/T on October 2, 2026, down 0.07% from the previous day. Over the past month, Nickel's price has fallen 8.20%, but it is still 0.64% 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 15832.32 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 16824.42 in 12 months time.



Price Day Month Year Date
Coal 148.95 -0.35 -0.23% 1.33% 41.86% Oct/02
Bitumen 4,568.00 -574.00 -11.16% -2.04% 35.43% Sep/30
Cobalt 39,140.00 0 0% -30.47% 11.83% Oct/01
Lead 1,850.43 -13.15 -0.71% -2.87% -8.25% Oct/02
Aluminum 3,097.50 -22.65 -0.73% -6.69% 14.25% Oct/02
Tin 54,332.00 405 0.75% 0.18% 47.29% Oct/01
Zinc 3,698.35 -28.38 -0.76% -4.97% 22.07% Oct/02
Nickel 15,530.00 -80 -0.51% -8.13% 0.71% Oct/02
Molybdenum 620.50 0 0% 0.49% 22.27% Sep/30
Palladium 1,172.50 -7.50 -0.64% -18.58% -6.87% Oct/02
Gallium 1,740.00 0 0% -2.52% 4.50% Sep/30
Germanium 27,250.00 0 0% 6.86% 91.23% Sep/30
Manganese 28.85 0 0% 0.35% -3.35% Sep/30
Indium 5,250.00 0 0% -1.87% 107.92% Sep/30
Soda Ash 1,050.00 0 0% 0% -11.17% Oct/02
Neodymium 947,500.00 0 0% -0.79% 20.70% Sep/30
Tellurium 798.50 0 0% 0.13% 34.20% Sep/30
Rhodium 9,000.00 -100 -1.10% -4.26% 27.21% Oct/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. 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
15519.25 15530.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Hits 39-week Low
Nickel decreased to 15812.00 USD/T, the lowest since December 2025. Over the past 4 weeks, Nickel lost 6.27%, and in the last 12 months, it increased 3.77%.
2026-10-01
Nickel Hits 9-Month Low
Nickel fell below $15,800 per tonne, hitting its lowest level since December 2025 as ample availability continued to weigh on prices. Philippine nickel ore shipments to Indonesia have increased in recent months, with the additional supply helping Indonesian smelters maintain feedstock access. Additionally, LME on-warrant inventories rose to 278,898 tonnes by September 24 from an August low of 264,444 tonnes, reinforcing comfortable stocks in the market. Demand has also struggled to keep pace with available supply, with nickel consumption still largely tied to stainless-steel production and battery demand providing only a limited offset. Meanwhile, Indonesia’s lower nickel ore quota remains below the roughly 315 million tonnes needed to run processing capacity at full rates, while water shortages have prompted some smelters at the Morowali Industrial Park to cut production, potentially affecting around 100,000 tonnes of nickel pig iron output.
2026-09-28
Nickel Extends Gains on Indonesia Supply Cut
Nickel traded around $16,550 per tonne, as concerns over supply disruptions in Indonesia emerged. Smelters at the Morowali Industrial Park will cut nickel pig iron production due to an El Niño-driven water shortage, with the affected output potentially reaching around 100,000 tonnes, pointing to tighter supply and helping limit further downside. However, concerns persisted that Indonesia’s production curbs may not be enough to prevent a surplus, as higher quota allocations for some operators and rising imports of Philippine nickel ore have helped processors adjust to lower domestic ore availability. The near-term outlook was also constrained by weak Chinese downstream demand, while elevated exchange inventories continued to weigh on prices, with LME and Shanghai Exchange stocks reaching around 478,000 tonnes, equivalent to roughly seven weeks of global consumption.
2026-09-22