Nickel Price Outlook

Nickel prices gained further ground over the past month, chiefly driven by stronger demand for stainless steel. On 10 July, nickel traded at USD 13,473 per metric ton, which was 4.2% higher than on the same day in the previous month. While the price was 4.2% higher than on the same day a year ago, it was down 3.4% on a year-to-date basis. Nickel prices climbed further in recent weeks, largely reflecting firmer demand for stainless steel, particularly in China, and battery production, of which nickel is a key ingredient. A lifting of coronavirus-related containment measures and the restart of manufacturing activity across the globe continued to support prices. Moreover, supporting Chinese demand, construction activity picked up amid loose monetary policy conditions and investment in infrastructure projects was ramped up in a bid to boost activity in the wake of the lockdown. Meanwhile, supply woes, stemming from Brazilian miner Vale downgrading its production outlook for this year, added further upward pressure.

Nickel Price History Data (USD per metric ton, aop)

2015  2016  2017  2018  2019  
Nickel 11835.3  9596.5  10414.13  13110.42  13917.88  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Nickel Historical Price Chart


Nickel historical price chart
Note: Nickel prices in USD per metric ton (mt). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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