Nickel prices averaged USD 15,436 per metric ton in October, down 5.3% from September. On 30 October, the commodity traded at USD 15,090 per metric ton, down 4.1% from 30 September.
Nickel prices fell for a second straight month in October, with the monthly average hitting a 10-month low. Plentiful supply from Indonesia, which provides around 60% of the world’s nickel, continues to weigh on prices. Meanwhile, requests from Indonesian miners to substantially increase 2027 quotas likely reinforced concerns about persistent oversupply. Softer demand for nickel-containing car batteries and a stronger U.S. dollar added to downside pressures.
This chart displays Nickel (US$/mt) from 2024 to 2026.
Nickel LME (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nickel LME | - | - | - | - | - | - | - | 15,993 | 15,568 | 15,169 | 15,030 | 14,915 |