Nickel fell to 15,215 USD/T on October 10, 2025, down 1.74% from the previous day. Over the past month, Nickel's price has fallen 0.03%, and is down 14.99% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on October of 2025.

Explore the complexities influencing ferronickel prices, from geopolitical tensions to green energy demands, and understand their impact on stainless steel production and global economic health.

Ferro Nickel Market Outlook

The global Ferro Nickel market size was valued at approximately USD 1.5 billion in 2023 and is expected to reach around USD 2.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period. The significant growth factor driving this market includes the rising demand for stainless steel, which heavily relies on ferro-nickel as an essential component.

One of the primary growth drivers in the Ferro Nickel market is the expanding construction industry. With urbanization on the rise globally, the demand for high-quality stainless steel, which utilizes ferro-nickel, is increasing rapidly. This is particularly evident in developing regions where rapid modernization and infrastructure development are taking place. Additionally, governments worldwide are investing heavily in infrastructure projects, further fueling the need for stainless steel and, consequently, ferro-nickel. The construction sector's reliance on stainless steel, for its durability and resistance to corrosion, is poised to bolster the Ferro Nickel market significantly in the coming years.

The automotive industry also plays a pivotal role in the growth of the Ferro Nickel market. The demand for electric vehicles (EVs), which require lightweight and durable materials for better efficiency and performance, has been surging. Ferro Nickel is a key component in manufacturing stainless steel used in EVs, thus propelling the market forward. Moreover, the automotive sector's continuous push towards innovation and the development of new, more efficient alloy compositions contribute to the growing demand for ferro-nickel. The increasing emphasis on fuel efficiency and emission reductions in the automotive industry further underscores the importance of ferro-nickel.

The aerospace industry is another sector fueling the growth of the Ferro Nickel market. The need for high-performance materials capable of withstanding extreme conditions is paramount in aerospace applications. Ferro Nickel, with its unique properties, is extensively used in manufacturing high-grade alloys for various aerospace components. The burgeoning demand for commercial and military aircraft, driven by increasing air travel and defense spending, respectively, has significantly contributed to the market's growth. Additionally, advancements in space exploration and satellite deployment further emphasize the necessity for high-quality ferro-nickel alloys.

Regionally, Asia Pacific dominates the Ferro Nickel market, primarily due to the robust industrial activities in countries like China and India. The region's rapid urbanization, coupled with substantial investments in infrastructure and manufacturing, has fueled the demand for ferro-nickel. North America and Europe also present significant growth opportunities, driven by the aerospace and automotive industries' demands. In these regions, technological advancements and stringent regulations promoting the use of high-quality materials further augment the Ferro Nickel market's expansion. Latin America and the Middle East & Africa, though smaller markets, are expected to witness steady growth driven by their developing industrial sectors.

Product Type Analysis

The Ferro Nickel market is segmented by product type into High-Grade Ferro Nickel and Low-Grade Ferro Nickel. High-Grade Ferro Nickel is primarily utilized in applications requiring superior quality and performance. This type of ferro-nickel contains a higher percentage of nickel, making it ideal for use in high-end stainless steel and alloys that demand exceptional corrosion resistance and strength. The demand for High-Grade Ferro Nickel is particularly robust in the aerospace and automotive industries, where performance and durability are critical. Additionally, the rising trend of high-tech manufacturing and sophisticated industrial processes further propels the demand for High-Grade Ferro Nickel.

Low-Grade Ferro Nickel, on the other hand, finds extensive use in applications where cost-effectiveness is a primary concern. This type of ferro-nickel contains a lower percentage of nickel, making it less expensive and suitable for bulk manufacturing processes. The construction industry, with its enormous demand for stainless steel in various forms, is a major consumer of Low-Grade Ferro Nickel. The segment's growth is driven by the need to balance performance with cost in large-scale construction and infrastructural projects. Additionally, emerging markets with budget constraints tend to favor Low-Grade Ferro Nickel, contributing to its steady dema

1340 Global exporters importers export import shipment records of Ferro nickel with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

150 Global import shipment records of Ferro Nickel with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Japan EPI: W: Metals: IS: Ferro-Alloys: Ferro-Nickel data was reported at 0.700 Per 1000 in May 2012. This stayed constant from the previous number of 0.700 Per 1000 for Apr 2012. Japan EPI: W: Metals: IS: Ferro-Alloys: Ferro-Nickel data is updated monthly, averaging 0.700 Per 1000 from Jan 2005 (Median) to May 2012, with 89 observations. The data reached an all-time high of 0.700 Per 1000 in May 2012 and a record low of 0.700 Per 1000 in May 2012. Japan EPI: W: Metals: IS: Ferro-Alloys: Ferro-Nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I340: Export Price Index: 2005=100: Weight.

Japan IMPI: W: MRP: IS: FA: Ferro-Nickel data was reported at 0.500 Per 1000 in Dec 2016. This stayed constant from the previous number of 0.500 Per 1000 for Nov 2016. Japan IMPI: W: MRP: IS: FA: Ferro-Nickel data is updated monthly, averaging 0.500 Per 1000 from Jan 1985 (Median) to Dec 2016, with 384 observations. The data reached an all-time high of 0.500 Per 1000 in Dec 2016 and a record low of 0.500 Per 1000 in Dec 2016. Japan IMPI: W: MRP: IS: FA: Ferro-Nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I222: Import Price Index: 2010=100: Weight.

The ferronickel smelting equipment market is experiencing robust growth, driven by the increasing global demand for stainless steel and other nickel-based alloys. The market's expansion is fueled by the burgeoning construction, automotive, and energy sectors, all of which rely heavily on nickel-containing materials. Technological advancements in smelting processes, leading to enhanced efficiency and reduced environmental impact, are further contributing to market expansion. Major players like Tonghua Jianxin Science & Technology, Tenova, Kawasaki, PT Gunbuster Nickel Indonesia, and Metso are actively shaping the market landscape through innovation and strategic partnerships. While the market faces certain restraints, such as fluctuating nickel prices and stringent environmental regulations, the overall outlook remains positive, with a projected Compound Annual Growth Rate (CAGR) of approximately 7% between 2025 and 2033. This growth is expected to be propelled by investments in new smelting capacities in regions with abundant nickel reserves and increasing government support for sustainable nickel production methods. The market segmentation reveals a diverse landscape, with different equipment types catering to varying production scales and metallurgical requirements. Regional variations exist, with significant growth anticipated in Asia-Pacific driven by strong industrialization and rising infrastructure development. North America and Europe are also expected to witness steady growth, fueled by ongoing technological advancements and stringent environmental regulations. The competitive landscape is marked by a mix of established players and emerging entrants, creating a dynamic market where innovation and strategic collaborations are key to success. The historical period (2019-2024) likely witnessed a more moderate growth rate, but this is expected to accelerate in the forecast period (2025-2033) based on current market dynamics and future projections. Therefore, companies focused on developing sustainable and cost-effective solutions are well-positioned to capitalize on the market's growth potential.

Japan EPI: JB: Metals: IS: Ferro-Alloys: Ferro-Nickel data was reported at 83.300 2005=100 in May 2012. This records a decrease from the previous number of 88.600 2005=100 for Apr 2012. Japan EPI: JB: Metals: IS: Ferro-Alloys: Ferro-Nickel data is updated monthly, averaging 109.900 2005=100 from Jan 2005 (Median) to May 2012, with 89 observations. The data reached an all-time high of 383.100 2005=100 in Jun 2007 and a record low of 54.000 2005=100 in Jan 2009. Japan EPI: JB: Metals: IS: Ferro-Alloys: Ferro-Nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I184: Export Price Index: 2005=100: JPY Basis: Metal and Related Products.

Statistics illustrates consumption, production, prices, and trade of Ferro-alloys; ferro-nickel in Asia-Pacific from 2007 to 2024.

Ferronickel Market Outlook

The global ferronickel market size stood at approximately USD 15 billion in 2023 and is projected to reach around USD 23.5 billion by 2032, with a CAGR of 5.1% during the forecast period. The market is driven by the rising demand in the stainless steel production sector and increasing construction activities globally.

Growth in the ferronickel market is primarily fueled by the burgeoning demand for stainless steel, which is a crucial component in numerous industrial applications. Stainless steel, known for its corrosion resistance and strength, is widely utilized in construction, automotive, and various consumer goods. This increasing demand for stainless steel directly translates to a higher requirement for ferronickel, an essential raw material in its production. The robustness of the construction and automotive industries, especially in developing economies, significantly boosts the ferronickel market. Furthermore, technological advancements in ferronickel production processes have led to improved efficiency and cost-effectiveness, contributing to market growth.

Another key growth factor is the expanding construction industry, particularly in emerging markets. Rapid urbanization and infrastructure development in Asia Pacific and Latin America are creating substantial demand for stainless steel, thereby driving the demand for ferronickel. The construction sector's need for durable, high-strength materials has pushed the need for stainless steel, in turn, boosting ferronickel consumption. Government initiatives and investments in infrastructure projects across various regions are expected to sustain this trend, promoting continuous market growth.

The automotive industry's evolution, particularly the shift towards electric vehicles, also augments the ferronickel market. Stainless steel and alloy steels, dependent on ferronickel, are critical materials in the manufacturing of automotive components. The automotive sector's growth, fueled by technological advancements and increasing consumer demand for electric vehicles, directly impacts the ferronickel market. Moreover, the aerospace and electronics industries' demand for high-performance materials further stimulates the market, as ferronickel is integral in producing specialized alloys used in these sectors.

Regionally, Asia Pacific dominates the ferronickel market, accounting for the largest share due to significant production and consumption in countries like China, Indonesia, and Japan. The region's robust industrial base and increasing infrastructure projects drive the demand for ferronickel. North America and Europe also present substantial market opportunities, driven by technological advancements and high demand in the automotive and electronics sectors. Latin America and the Middle East & Africa are emerging markets with significant growth potential, attributed to increasing industrialization and infrastructure development.

Grade Analysis

The ferronickel market is segmented by grade into high-grade ferronickel and low-grade ferronickel. High-grade ferronickel holds a significant market share due to its extensive use in high-quality stainless steel production. High-grade ferronickel contains a higher percentage of nickel, making it more suitable for applications requiring superior corrosion resistance and strength. This grade is essential for manufacturing stainless steel used in demanding environments, such as marine, chemical processing, and high-temperature applications. The market for high-grade ferronickel is expected to grow steadily, driven by the increasing demand for premium stainless steel products.

Low-grade ferronickel, while containing a lower percentage of nickel, finds extensive use in various industrial applications where ultra-high nickel content is not critical. This grade is more cost-effective and is widely used in producing general-purpose stainless steel and alloy steels. The demand for low-grade ferronickel is driven by its affordability and suitability for a broad range of applications, particularly in the construction and automotive industries. The market for low-grade ferronickel is anticipated to grow at a stable pace, supported by the continuous development of infrastructure and manufacturing sectors in emerging economies.

The differentiation between high-grade and low-grade ferronickel is crucial for manufacturers to meet the diverse needs of different end-user industries. The choice between these grades depends on the specific requirements of the application, such as strength, corro

Japan EXPI: JPY: Metal: IS: Ferro Alloys: Ferro Nickel data was reported at 278.200 2000=100 in Oct 2007. This records an increase from the previous number of 268.500 2000=100 for Sep 2007. Japan EXPI: JPY: Metal: IS: Ferro Alloys: Ferro Nickel data is updated monthly, averaging 113.150 2000=100 from Jan 2000 (Median) to Oct 2007, with 94 observations. The data reached an all-time high of 537.000 2000=100 in Jun 2007 and a record low of 90.700 2000=100 in Oct 2001. Japan EXPI: JPY: Metal: IS: Ferro Alloys: Ferro Nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I195: Export Price Index: 2000=100: JPY Basis: Metals and Related Product.

Japan EPI: CB: Metals: IS: Ferro-Alloys: Ferro-Nickel data was reported at 115.000 2005=100 in May 2012. This records a decrease from the previous number of 119.700 2005=100 for Apr 2012. Japan EPI: CB: Metals: IS: Ferro-Alloys: Ferro-Nickel data is updated monthly, averaging 132.700 2005=100 from Jan 2005 (Median) to May 2012, with 89 observations. The data reached an all-time high of 343.800 2005=100 in Jun 2007 and a record low of 61.900 2005=100 in Apr 2009. Japan EPI: CB: Metals: IS: Ferro-Alloys: Ferro-Nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I190: Export Price Index: 2005=100: Contract Currency Basis: Metals and Related Products.

Japan EPI: CB: MRP: IS: FA: Ferro-nickel data was reported at 54.300 2010=100 in Dec 2016. This records an increase from the previous number of 50.200 2010=100 for Nov 2016. Japan EPI: CB: MRP: IS: FA: Ferro-nickel data is updated monthly, averaging 67.450 2010=100 from Jan 2000 (Median) to Dec 2016, with 204 observations. The data reached an all-time high of 244.000 2010=100 in Jun 2007 and a record low of 34.500 2010=100 in Feb 2002. Japan EPI: CB: MRP: IS: FA: Ferro-nickel data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I176: Export Price index: 2010=100: Contract Currency Basis: Metals & related products.

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Nickel Market Size 2024-2028

The nickel market size is projected to increase by USD 16.55 billion, at a CAGR of 4.06% between 2023 and 2028. Market growth hinges on multiple factors, notably the surge in infrastructure development and urbanization in emerging economies, broadening electroplating applications of nickel, and the prevalence of stringent regulations. Emerging economies' focus on infrastructure drives demand for nickel in construction and urban development projects. Additionally, the expanding use of nickel in electroplating applications across industries enhances market prospects. However, stringent regulations, particularly concerning environmental and labor standards, present challenges, potentially restraining market expansion despite favorable growth drivers.

What will be the Size of the Market During the Forecast Period?

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Market Segment

The nickel (element) is intertwined with various industries, including lightweight vehicles, solar panels, and food and beverage. Alongside chromium (metal) and titanium, nickel contributes to the production of solar panels and other applications. However, concerns persist regarding sulfur dioxide emissions, urging the industry to adopt more sustainable practices in nickel and chromium extraction.

By Type

The primary nickel segment is estimated to witness significant growth during the forecast period. Primary nickel, a key segment in the market, encompasses various types like nickel pig iron (NPI), ferronickel, and nickel matte, each serving distinct industrial purposes. NPI, notably favored for stainless steel production, is cost-effective and widely utilized, particularly in regions like China.

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The primary nickel segment was the largest segment and was valued at USD 29.52 billion in 2018. Further, ferronickel, produced via nickel ore reduction, finds applications in stainless steel and alloy manufacturing. Noteworthy vendors such as Eramet and Vale SA invest in ferronickel production, driving market growth alongside nickel matte usage by companies like PJSC MMC Norilsk Nickel.

By Application

Stainless steel, a significant segment in the market, finds widespread use across industries like construction, automotive, healthcare, and food processing due to its corrosion resistance, strength, and durability. With nickel playing a pivotal role in stainless steel production, its alloying process accounts for a substantial portion of global stainless steel output. Key vendors like BHP Group plc and PT Indonesia Asahan Aluminum provide various nickel grades tailored for stainless steel applications, driving market growth.

By Region

APAC is estimated to contribute 93% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

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Indonesia and China are major contributors to the market in the APAC region, collectively dominating global nickel output. Indonesia's vast nickel reserves drive its significant production levels, with the country boasting the world's largest nickel reserve according to the US Geological Survey. China's robust stainless steel industry, fueled by infrastructure development and urbanization, heavily relies on nickel imports. Additionally, China's rapid progress in electric vehicle (EV) manufacturing boosts demand for nickel-based batteries, further amplifying nickel's importance in the APAC market.

Market Dynamics

The market plays a pivotal role in various sectors, including the automotive industry and consumer goods industry. As a key component in lithium-ion batteries such as Nickel Cobalt Aluminum (NCA) and Nickel Manganese Cobalt (NMC), nickel powers the rise of electric cars and energy storage systems. Nickel plays a crucial role in secondary battery recycling, as it is a valuable material recovered and reused in the production of new batteries. Its applications extend to special steels, stainless steel (SS), and automobile batteries, ensuring lightweight and durable solutions. However, concerns over greenhouse emissions and health risks persist, prompting ongoing innovations in nickel usage across the construction industry, wind turbines, and medical industry.

Key Market Driver

An increase in infrastructure development and urbanization in emerging economies is the key factor driving the market. The rapid economic expansion in emerging economies such as China, India, and Southeast Asia is fueling urbanization and industrial development. Nickel, known for its corrosion resistance and strength, is witnessing heightened demand due to the surge in infrastructure p

The ferronickel alloy powder market is experiencing robust growth, driven by increasing demand from diverse sectors. While precise market size figures for 2025 are unavailable, a reasonable estimation can be made based on industry trends and the provided CAGR (let's assume a CAGR of 7% for illustrative purposes). If we assume a 2024 market size of $1.5 billion (a plausible figure given the involvement of major players like Anglo American and Vale), a 7% CAGR would project a 2025 market size of approximately $1.6 billion. This growth is fueled primarily by the expanding electric vehicle (EV) battery market, which relies heavily on nickel-based alloys for cathode production. Furthermore, advancements in additive manufacturing and the rise of high-performance applications in aerospace and defense are significant contributors to market expansion. Key restraining factors include fluctuating nickel prices and the environmental concerns associated with nickel mining and processing, necessitating sustainable sourcing and refining techniques. The market is segmented by application (batteries, aerospace, etc.), grade, and region, with Asia-Pacific likely holding the largest market share due to significant EV production and robust industrial activity. Major players, including those listed, are aggressively investing in capacity expansion and technological advancements to meet this burgeoning demand. Competition is fierce, characterized by both established multinational corporations and regional players vying for market share through strategic partnerships, technological innovation, and cost optimization. The forecast period (2025-2033) anticipates continued market expansion, though the CAGR might moderate slightly as the market matures. Successful players will need to prioritize sustainable practices, technological innovation (like developing high-energy density alloys), and supply chain resilience to remain competitive. The geographic distribution of market share is expected to shift slightly, with regions experiencing rapid industrialization likely witnessing faster growth. Companies are exploring alternative nickel sourcing methods and recycling initiatives to address sustainability concerns, improving their long-term prospects within a more environmentally conscious global marketplace. Ultimately, the ferronickel alloy powder market is poised for significant growth, driven by technological progress, increasing demand from key industries, and continuous innovation within the industry itself.

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Statistics illustrates consumption, production, prices, and trade of Ferro-alloys; ferro-nickel in Benelux from 2007 to 2024.

Ferro-alloys; ferro-nickel Imports in Switzerland 2007-2018: Imports, Imports By Country, Import Prices By Country