Nickel prices averaged USD 16,748 per metric ton in August, up 0.6% from July. On 31 August, the commodity traded at USD 16,701 per metric ton, down 2.1% from 31 July.
In August, average nickel prices rose month on month for the first time since May, though the increase was smaller than for most other base metals. Prices are up around 12% in the year to datefrom their December 2025 average, supported by solid stainless steel and battery demand and a cut to Indonesia’s production quota, but likely contained by elevated inventories.
This chart displays Nickel (US$/mt) from 2024 to 2026.
Nickel LME (prices in US$/mt, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nickel LME | - | - | 16,271 | 15,993 | 15,568 | 15,169 | 15,030 | 14,915 | 17,325 | 18,071 | - | - |