Actual
15370
Daily Change
120.00 0.79%
Monthly
-5.50%
Yearly
1.72%
Q4 Forecast
15586
Nickel - Summary

Nickel fell below $15,200 per tonne, hitting its lowest level since December 2025, as concerns over a global surplus continued to weigh on prices. The International Nickel Study Group revised its 2026 outlook from a 32,000-tonne deficit to a 19,000-tonne surplus and expects the excess to widen to 70,000 tonnes in 2027. At the same time, Indonesian nickel ore imports from the Philippines increased 65.75% year-on-year to 13.52 million tonnes in January-August 2026, with the additional supply helping Indonesian smelters secure feedstock and cushioning the impact of production restrictions. Meanwhile, Indonesia’s nickel smelter association forecasts a 3.5%-4% decline in domestic nickel product output this year, citing raw-material shortages, higher ore prices, drought-related water constraints, and some smelters redirecting power to aluminum.

Nickel - Stats

Nickel fell to 15,325.75 USD/T on October 16, 2026, down 0.29% from the previous day. Over the past month, Nickel's price has fallen 5.77%, but it is still 1.43% 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 18 of 2026.

Nickel - Forecast

Nickel fell to 15,325.75 USD/T on October 16, 2026, down 0.29% from the previous day. Over the past month, Nickel's price has fallen 5.77%, but it is still 1.43% 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 15586.29 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 16614.65 in 12 months time.



Price Day Month Year Date
Coal 150.40 0.75 0.50% 3.98% 45.38% Oct/16
Bitumen 4,609.00 -1.00 -0.02% -14.30% 45.53% Oct/16
Cobalt 39,345.00 0 0% -3.27% -7.91% Oct/15
Lead 1,886.68 3.70 0.20% -1.44% -4.27% Oct/16
Aluminum 3,008.50 23.50 0.79% -8.77% 8.43% Oct/16
Tin 50,127.00 -321 -0.64% -4.38% 40.13% Oct/15
Zinc 3,696.30 19.65 0.53% -4.95% 25.71% Oct/16
Nickel 15,370.00 120 0.79% -5.50% 1.72% Oct/16
Molybdenum 615.50 -2.00 -0.32% -0.81% 20.10% Oct/16
Palladium 1,118.50 -10.00 -0.89% -14.16% -24.98% Oct/16
Gallium 1,740.00 0 0% -1.14% 4.50% Oct/16
Germanium 27,250.00 0 0% 1.68% 91.23% Oct/16
Manganese 28.85 0 0% -0.69% -2.70% Oct/16
Indium 5,150.00 -100 -1.90% -2.83% 103.96% Oct/16
Soda Ash 1,050.00 0 0% 0% -11.47% Oct/16
Neodymium 947,500.00 0 0% -0.26% 33.45% Oct/16
Tellurium 798.50 0 0% 0% 29.84% Oct/16
Rhodium 9,150.00 0 0% -0.81% 10.24% Oct/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
15325.75 15370.00 54050.00 3730.50 1993 - 2026 USD/MT Daily

News Stream
Nickel Hits 42-week Low
Nickel decreased to 15252.00 USD/T, the lowest since December 2025. Over the past 4 weeks, Nickel lost 5.4%, and in the last 12 months, it increased 0.31%.
2026-10-15
Nickel Hits Lowest Since December 2025
Nickel fell below $15,200 per tonne, hitting its lowest level since December 2025, as concerns over a global surplus continued to weigh on prices. The International Nickel Study Group revised its 2026 outlook from a 32,000-tonne deficit to a 19,000-tonne surplus and expects the excess to widen to 70,000 tonnes in 2027. At the same time, Indonesian nickel ore imports from the Philippines increased 65.75% year-on-year to 13.52 million tonnes in January-August 2026, with the additional supply helping Indonesian smelters secure feedstock and cushioning the impact of production restrictions. Meanwhile, Indonesia’s nickel smelter association forecasts a 3.5%-4% decline in domestic nickel product output this year, citing raw-material shortages, higher ore prices, drought-related water constraints, and some smelters redirecting power to aluminum.
2026-10-15
Nickel Remains Under Pressure from Ample Supply
Nickel traded around $15,600 per tonne, remaining near a recent over nine-month low of $15,510, as persistent oversupply and a stronger US dollar weighed on prices. LME inventories remained elevated at around 283,000 tonnes in early October, underscoring ample availability despite some production disruptions, while Indonesian nickel ore benchmarks had declined and premiums turned negative. Additionally, the dollar index had recently reached its highest level since April 2025, while rising expectations of a December Federal Reserve rate hike added pressure on dollar-denominated metals. Overnight declines in Chinese nickel and stainless steel prices also pointed to continued weakness across the metals market. Meanwhile, Indonesia is considering a moratorium on new smelters producing semi-finished nickel products to address an estimated global surplus of 2.5 million tonnes. If implemented, the restrictions could curb future capacity growth.
2026-10-13