Nickel prices averaged USD 15,103 per metric ton in September, up 1.0% from August. On 30 September, the commodity traded at USD 15,052 per metric ton, down 1.3% from 29 August.
Nickel prices rebounded in September. This was due to positive data in Chinese manufacturing activity conditions and steel production; nickel is widely used in the production of galvanized steel. That said, prices remained well below the past five-year average, as an Indonesian production boom has led to the market being oversupplied; in H1, nickel became the country’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 | - |