Nickel Prices

Nickel prices averaged USD 17,588 per metric ton in June, down 6.4% from May. On 30 June, the commodity traded at USD 16,088 per metric ton, down 12.1% from 29 May.

In June, average nickel prices fell at the sharpest pace in 23 months as Indonesia—which accounts for about 60% of global nickel output—prepares to permit a substantial increase in nickel production later this year by raising total mining quotas. While subject to final approval, this relaxation will reverse the strict quota tightening implemented at the start of the year, which had caused prices to surge. A stronger USD exacerbated the fall.