Actual
16150
Daily Change
210.00 1.32%
Monthly
-3.58%
Yearly
4.56%
Q3 Forecast
16498
Nickel - Summary

Nickel traded around $16,000 per tonne, falling to its lowest level since December 2025 as Indonesia cut benchmark prices for low-grade nickel ore. The revised pricing formula nearly halves the cost of 1.2% nickel ore, improving the economics of high-pressure acid leach (HPAL) plants, while significant new capacity is expected to ramp up this year and next, potentially adding to global supply. Additionally, stronger US rate-hike bets lifted the dollar and Treasury yields, weighing on base metals broadly. Over the longer term, expected US deep-sea mining permits could eventually pave the way for additional nickel, cobalt, copper and manganese supply. Meanwhile, drought conditions in Indonesia have constrained Nickel Industries' Excelsior Nickel Cobalt facility to 30% of nameplate capacity, while output at the Indonesia Morowali Industrial Park could fall 30% to 40% if new water sources are not secured, limiting near-term supply growth.

Nickel - Stats

Nickel rose to 16,150 USD/T on September 16, 2026, up 1.32% from the previous day. Over the past month, Nickel's price has fallen 3.58%, but it is still 4.56% 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 16 of 2026.

Nickel - Forecast

Nickel rose to 16,150 USD/T on September 16, 2026, up 1.32% from the previous day. Over the past month, Nickel's price has fallen 3.58%, but it is still 4.56% 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 144.60 -2.25 -1.53% 11.83% 42.11% Sep/15
Bitumen 5,439.00 -2.00 -0.04% 28.22% 57.70% Sep/16
Cobalt 41,200.00 -650 -1.55% -26.81% 23.59% Sep/15
Lead 1,886.43 11.80 0.63% -0.23% -6.31% Sep/16
Aluminum 3,273.00 20.10 0.62% 0.42% 21.94% Sep/16
Tin 51,966.00 87 0.17% -6.82% 48.98% Sep/15
Zinc 3,811.00 -9.13 -0.24% 1.33% 29.63% Sep/16
Nickel 16,150.00 210 1.32% -3.58% 4.56% Sep/16
Molybdenum 620.50 3.00 0.49% 0.49% 21.07% Sep/16
Palladium 1,286.50 -16.00 -1.23% -3.78% 10.48% Sep/16
Gallium 1,760.00 0 0% -3.03% 5.71% Sep/16
Germanium 26,550.00 0 0% 8.37% 84.38% Sep/16
Manganese 29.05 0 0% 1.04% -2.68% Sep/16
Indium 5,300.00 0 0% -3.64% 109.90% Sep/16
Soda Ash 1,050.00 0 0% 1.94% -11.62% Sep/16
Neodymium 950,000.00 -5000 -0.52% -0.52% 21.02% Sep/16
Tellurium 797.50 0 0% -0.93% 36.32% Sep/16
Rhodium 9,550.00 0 0% 8.52% 35.46% Sep/16


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
16150.00 15940.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Extends Decline to 8-Month Low
Nickel traded around $16,000 per tonne, falling to its lowest level since December 2025 as Indonesia cut benchmark prices for low-grade nickel ore. The revised pricing formula nearly halves the cost of 1.2% nickel ore, improving the economics of high-pressure acid leach (HPAL) plants, while significant new capacity is expected to ramp up this year and next, potentially adding to global supply. Additionally, stronger US rate-hike bets lifted the dollar and Treasury yields, weighing on base metals broadly. Over the longer term, expected US deep-sea mining permits could eventually pave the way for additional nickel, cobalt, copper and manganese supply. Meanwhile, drought conditions in Indonesia have constrained Nickel Industries' Excelsior Nickel Cobalt facility to 30% of nameplate capacity, while output at the Indonesia Morowali Industrial Park could fall 30% to 40% if new water sources are not secured, limiting near-term supply growth.
2026-09-16
Nickel Hits 10-week Low
Nickel decreased to 16150.00 USD/T, the lowest since July 2026. Over the past 4 weeks, Nickel lost 3.55%, and in the last 12 months, it increased 4.6%.
2026-09-15
Nickel Falls to 2-Month Low
Nickel traded around $16,320 per tonne, falling to its lowest level since July as stronger US rate hike bets lifted the dollar and Treasury yields, weighing on base metals broadly. US August producer prices came in above expectations, adding to rate hike bets that later climbed above 90%, while the US 10-year yield approached 5% and the dollar index climbed above 99, contributing to a broad LME base-metals selloff. Meanwhile, worsening drought conditions in Indonesia tightened the supply outlook, with Nickel Industries limiting the ramp-up of its Excelsior Nickel Cobalt facility to 30% of nameplate capacity due to water shortages. The disruption adds to concerns over output at the Indonesia Morowali Industrial Park, which could fall by 30% to 40% if new water sources are not secured. Additionally, Indonesia’s 2026 mining quota remains well below last year’s level, while Chinese HPAL and MHP output cuts and recent inventory drawdowns offer some offset to the downside.
2026-09-11