Nickel Prices man

Nickel prices averaged USD 17,173 per metric ton in February, down 3.0% from January. On 27 February, the commodity traded at USD 17,641 per metric ton, down 0.5% from 30 January.

After rising to a near two-year high in January, average nickel prices fell in February. At the start of the month, a stronger U.S. dollar weighed on prices, and the Lunar New Year shutdown in China likely added to the pull. That said, the commodity traded above its past two-year average, reflecting Indonesia’s plan to cut nickel production by a third in 2026—it is responsible for almost 65% of global mining output. The world’s biggest nickel mine, located in Indonesia, has been ordered to slash output by over 70%.