Nickel Prices

Nickel prices averaged USD 17,711 per metric ton in January, up 18.5% from December. On 30 January, the commodity traded at USD 17,733 per metric ton, up 7.5% from 31 December.

Average nickel prices climbed to a near two-year high in January, putting in among the best performers in the base metals complex. The rise reflected ongoing supply concerns linked to Indonesia as the country—accounting for about 65% of global mining output—confirmed in January that it will cut nickel production by a third in 2026. In other news, Solway Investment Group recently announced it will restart its nickel operations in Guatemala within months due to the sharp rise in metal prices.