Nickel prices averaged USD 15,092 per metric ton in October, down 0.1% from September. On 31 October, the commodity traded at USD 15,021 per metric ton, down 0.2% from 30 September.
Nickel prices were roughly unchanged in October from September, and have now tracked close to USD 15,000 per metric ton since the outset of Q2. As a result, prices remained well below the past five-year average, with booming Indonesian production leading to oversupply in the market—in H1, nickel became Indonesia’s top export for the first time on record.
This chart displays Nickel (US$/mt) from 2023 to 2025.
Nickel LME (prices in US$/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 | - | - | - | 17,257 | 16,600 | 18,448 | 16,271 | 15,993 | 15,568 | 15,169 | 15,030 | - |