Nickel Prices

Nickel prices averaged USD 15,034 per metric ton in July, up 0.2% from June. On 31 July, the commodity traded at USD 14,736 per metric ton, down 1.9% from 30 June.

Prices averaged near June’s level in July, as rising output in top producer Indonesia kept the market in a wide surplus. Meanwhile, to tackle oversupply, Indonesia is planning to reduce mining quotas from three years to one. On the demand side, recent U.S. trade deals with the EU and Japan likely supported market sentiment.