Nickel Price OutlookNickel prices fell in late September following an approximate 40% rise between July and September, exposing an underlying mismatch in demand-supply dynamics. On 6 October, nickel was trading at USD 10,515 per metric ton, which was 13.1% lower than on the same day in September. The price was up 5.5% on a year-to-date basis and was 3.0% higher than on the same day of last year. The fall in prices in monthly terms came about despite the reduction in supply of nickel ore due to several mines in the Philippines being shut down as a part of recent environmental regulation policies. The supply of refined nickel, however, is growing as Indonesia builds up production of refined nickel after banning unprocessed nickel exports in 2014. In Australia, a new mine opened in early September, although several other mines are expected to close, with expectations of new opportunities in global demand from lithium-ion batteries for electric vehicle production. That said, despite the recent downturn in prices, the trend should continue to point upward in the medium-term as the market adjusts to shifts in supply.
Nickel Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Nickel Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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