Nickel futures traded around $19,000 per tonne, pulling back from a recent over two-year high near $19,600, as profit-taking emerged after the recent sharp rally. Traders began locking in gains as the market digested the speed of the move rather than any deterioration in underlying fundamentals. Broader industrial metals also showed mixed price action, reflecting a pause in risk appetite after a strong run across the base metals complex. The earlier rally had been driven by tightening supply narratives and Indonesia-linked policy signals, including expectations of higher export-related costs and windfall taxes that reinforced a higher cost floor for the nickel industry. Elevated official reference prices and strong momentum in refined nickel contracts also pulled the broader complex higher. Meanwhile, nickel remains underpinned by Indonesia’s structurally tight supply backdrop, alongside cooperation efforts with the Philippines on downstream processing and supply chains.

Nickel rose to 19,097.75 USD/T on May 13, 2026, up 0.91% from the previous day. Over the past month, Nickel's price has risen 4.88%, and is up 20.87% 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 May 13 of 2026.

Nickel rose to 19,097.75 USD/T on May 13, 2026, up 0.91% from the previous day. Over the past month, Nickel's price has risen 4.88%, and is up 20.87% 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 19156.26 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 20451.13 in 12 months time.



Price Day Month Year Date
Coal 132.50 1.65 1.26% -2.18% 32.63% May/12
Bitumen 4,331.00 -48.00 -1.10% 7.66% 23.78% May/13
Cobalt 56,290.00 0 0% 0% 67.03% May/12
Lead 2,006.25 9.00 0.45% 3.62% 0.67% May/13
Aluminum 3,575.20 -3.25 -0.09% -1.42% 43.53% May/12
Tin 55,708.00 1831 3.40% 15.43% 71.02% May/11
Zinc 3,544.35 17.40 0.49% 6.00% 28.44% May/13
Nickel 19,082.75 158 0.83% 4.79% 20.78% May/13
Molybdenum 612.50 14.50 2.42% 12.39% 32.72% May/13
Palladium 1,504.50 14.00 0.94% -5.47% 58.70% May/13
Gallium 2,250.00 0 0% 5.88% 28.21% May/13
Germanium 20,000.00 500 2.56% 17.65% 30.72% May/13
Manganese 33.45 0 0% -3.46% 10.58% May/13
Indium 4,750.00 0 0% 11.76% 88.12% May/13
Soda Ash 1,212.00 0 0% 0.50% -12.68% May/12
Neodymium 1,010,000.00 -15000 -1.46% 1.51% 84.47% May/13
Tellurium 800.00 0 0% 2.56% 8.11% May/13
Rhodium 9,975.00 0 0% 0.25% 83.87% May/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. 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
19097.75 18925.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Futures Slip from Over Two-Year High
Nickel futures traded around $19,000 per tonne, pulling back from a recent over two-year high near $19,600, as profit-taking emerged after the recent sharp rally. Traders began locking in gains as the market digested the speed of the move rather than any deterioration in underlying fundamentals. Broader industrial metals also showed mixed price action, reflecting a pause in risk appetite after a strong run across the base metals complex. The earlier rally had been driven by tightening supply narratives and Indonesia-linked policy signals, including expectations of higher export-related costs and windfall taxes that reinforced a higher cost floor for the nickel industry. Elevated official reference prices and strong momentum in refined nickel contracts also pulled the broader complex higher. Meanwhile, nickel remains underpinned by Indonesia’s structurally tight supply backdrop, alongside cooperation efforts with the Philippines on downstream processing and supply chains.
2026-05-07
Nickel Futures Surge Near 2-Year High
Nickel futures traded above $19,500 per tonne, nearing a two-year high, as supply disruptions and tightening raw material availability reinforced bullish momentum in the market. Prices were underpinned by mining quota cuts in Indonesia, which have constrained ore supply and raised concerns over feedstock availability for downstream processors. In addition, a sulfur shortage linked to disruptions in the Strait of Hormuz added further pressure by raising processing costs for nickel intermediates and tightening output conditions beyond the mining stage. Sentiment was also supported by broader strength across base metals, with SHFE nickel and peers advancing amid a softer dollar and improved risk appetite. Indonesian stainless steel producers suspended offers ahead of expected price hikes, signaling pass-through of higher input costs. Further momentum was driven by expectations of continued supply discipline in Indonesia, reinforcing views that tight conditions could persist in near term.
2026-04-27
Nickel Hits 22-month High
Nickel increased to 19163.00 USD/T, the highest since June 2024. Over the past 4 weeks, Nickel gained 10.59%, and in the last 12 months, it increased 22.15%.
2026-04-27