Nickel fell to 15,235 USD/T on July 11, 2025, down 0.33% from the previous day. Over the past month, Nickel's price has risen 0.86%, but it is still 9.62% lower than a year ago, 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 July of 2025.

In May 2024, the price of one metric ton of nickel stood at some ********* U.S. dollars. In comparison, in December 2016, the price of nickel was just below ****** U.S. dollars per metric ton. Thus, the nickel price has increased considerably in recent years, though it continuously fluctuates. In the beginning of 2022, however, the price of nickel skyrocketed due to disruptions to supply chains and a wide scarcity of raw materials and metals. Overview of nickel Discovered in 1751, nickel is a base metal with a silvery-white lustrous appearance that has a slightly golden tinge. The metal is crucial for many global industries, especially, for example, for the production of stainless-steel. Nickel is highly corrosion-resistant and is used to plate other metals in order to protect them. Because of these useful traits, nickel is used in more than ******* products worldwide, spanning from architectural, industrial, military, transportation and aerospace, marine, currency, and consumer applications. Nickel price dynamics Though nickel is the fifth most abundant element found on Earth, as with any commodity, the price of nickel can vary widely depending on global market conditions. Following the collapse of the Soviet Union, exports of nickel increased dramatically, dropping the price of nickel in the mid-1990s to below production costs. Nickel production in the Western Hemisphere was reduced during that period. Prices then increased again, up to a high of ****** U.S. dollars per metric ton in May 2007. Since then, nickel prices have decreased, and have remained between a low of ***** U.S. dollars per metric ton and a high of ****** U.S. dollars per metric ton between 2016 and 2021. It is forecast that the price of nickel will amount to more than ****** U.S. dollars per metric ton in 2025.

The global nickel market skyrocketed to $X in 2021, picking up by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2021 and is likely to continue growth in the immediate term.

Nickel prices skyrocketed on the expectations of a shortage on the global market provoked by the increase in demand that outpaces the supply growth. The rebound in the steel industry and rising electric vehicle manufacturing drive nickel consumption. Pandemic-related lockdowns in the first half of 2020 and the related uncertainty led to a decrease in the global nickel mine output by -4% y-o-y. Despite this, refined nickel production increased by +2% y-o-y, boosted by the recovering demand from mid-2020 and the use of secondary smelting. Indonesia, the largest nickel ore producer worldwide, banned exports of the ore and thus achieved a record output of refined nickel.

In recent years, nickel prices have hit some of their all-time highest numbers, at an average of almost 26,000 U.S. dollars per metric ton throughout 2022. This was driven by a large spike in prices at the end of that year, where they peaked at 31,275 U.S. dollars per ton in mid-November. The recent surge in nickel prices has been driven by several factors, including disruptions to Russia's (the world's third-largest nickel producer) export industry following its invasion of Ukraine. Additionally, demand for nickel has grown alongside the growth of lithium-ion battery production, driven by the growth of the electronic car market. However, these recent peaks are still well below the all-time annual high of more than 37,000 U.S. dollars in 2007, where low international supply coupled with high demand from China's stainless-steel manufacturing industries caused prices to soar.

The Chinese nickel market surged to $X in 2021, with an increase of X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the immediate term.

The global nickel market size was valued at USD 37.0 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 55.5 Billion by 2033, exhibiting a CAGR of 4.6% during 2025-2033. Asia Pacific currently dominates the market, holding a significant market share of over 72.0% in 2024. Rapid technological advancements and innovation, favorable government policies and regulations, burgeoning investments in infrastructure and development projects, and the rising demand for stainless steel products are some of the major factors propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 37.0 Billion
Market Forecast in 2033	USD 55.5 Billion
Market Growth Rate 2025-2033	4.6%

IMARC Group provides an analysis of the key trends in each segment of the global nickel market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on product type, application and end-use industry.

In 2021, the Indian nickel market increased by X% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

The nickel market, valued at approximately $XX million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 4.80% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning electric vehicle (EV) sector is a primary driver, with nickel a crucial component in EV batteries. Increasing demand for stainless steel, particularly in construction and infrastructure projects globally, further contributes to market growth. Furthermore, advancements in nickel plating technologies for enhancing corrosion resistance and aesthetics across various industries are also bolstering demand. However, the market faces certain constraints, including price volatility influenced by geopolitical factors and supply chain disruptions, as well as environmental concerns related to nickel mining and processing. Diversification of supply sources and sustainable mining practices are crucial for mitigating these challenges. The market is segmented by application, with stainless steel, alloys, plating, casting, and batteries representing major segments. Key players such as Anglo American, BHP, and Glencore are actively shaping market dynamics through strategic investments and technological innovations. Geographical distribution shows strong growth potential in the Asia-Pacific region, driven primarily by China and India's expanding industrial sectors and burgeoning EV markets. North America and Europe also present significant market opportunities, although growth rates may vary depending on regional economic conditions and policy initiatives. The forecast period of 2025-2033 presents exciting possibilities for nickel market players. Companies are focusing on enhancing operational efficiencies, exploring new nickel sources, and developing innovative technologies to improve sustainability. Strategic partnerships and collaborations are also becoming increasingly prevalent, aiming to secure reliable supply chains and meet the rising global demand. The industry's ability to address sustainability concerns and adapt to fluctuating market conditions will significantly influence its long-term growth trajectory. Government regulations promoting clean energy and sustainable industrial practices will play a pivotal role in shaping the future of the nickel market. The ongoing development and adoption of high-nickel cathode materials in EV batteries are expected to be a major catalyst for market expansion throughout the forecast period. Recent developments include: August 2022: NMDC Ltd. announced its decision to explore opportunities overseas in a bid to mine lithium, nickel, and cobalt in order to meet the growing demand in India. The state-run iron-ore producer is planning to start mining in Australia, as it holds a 90.02% stake in the country's Legacy Iron Ore Ltd., December 2021: Mitsui & Co. Mineral Resources Development (Asia) Corp. (MMRDA) and Sojitz will sell all their shares in CBNC (36% in total to Sumitomo Metal Mining Co. Ltd (SMM). With the sales of the shares, SMM's shareholding ratio in CBNC will increase from the current 54% of the outstanding shares to 90%., October 2021: Renault Group announced the signing of a Memorandum of Understanding (MoU) with Terrafame, for a future supply of nickel sulphate. With this agreement, Renault Group will secure a significant annual supply of nickel sulphate from Terrafame, representing up to 15 GWh of annual capacity., In July 2021: BHP announced the signing of a nickel supply agreement from its Nickel West asset in Western Australia, with one of the world's leading sustainable energy company, Tesla Inc.. Key drivers for this market are: Rising Demand for Corrosion Resistant Alloys in the Oil and Gas Industry, Other Drivers. Potential restraints include: Rising Demand for Corrosion Resistant Alloys in the Oil and Gas Industry, Other Drivers. Notable trends are: Increasing Demand for Stainless Steel.

In 2021, the Egyptian nickel market decreased by -X% to $X, falling for the second year in a row after two years of growth. Over the period under review, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

The nickel acetate market is projected to register a CAGR of 4% during the forecast period, up from US$ 52 Bn in 2021 to reach a valuation of US$ 80 Bn by 2032.

Report Attribute	Details
Estimated Base Year Value (2021)	US$ 52 Billion
Expected Market Value (2022)	US$ 54 Billion
Anticipated Forecast Value (2032)	US$ 80 Billion
Projected Growth Rate (2022 to 2032)	4% CAGR

Scope Of Report

Report Attribute	Details
Growth rate	CAGR of 4% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 to 2020
Forecast period	2022 to 2032
Quantitative units	Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors and trends, Pricing Analysis
Segments covered	Product form, purity, application, region
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand
Country scope	USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	AGC Inc.; Cevital Group; Euroglas; Guardian Industries; Saint-Gobain; Sisecam Group; Vitro
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail of customized purchase options to meet your exact research needs.

The Global Nickel Metal Market is expected to experience a robust growth trajectory with an approximate compound annual growth rate (CAGR) of 7.7% over the forecast period spanning from 2023 to 2031.
Report Scope:

Report Metric	Details
Market Size by 2031	USD XX Million/Billion
Market Size in 2023	USD XX Million/Billion
Market Size in 2022	USD XX Million/Billion
Historical Data	2021-2023
Base Year	2023
Forecast Period	2025-2033
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	Segment By Type Nickeliferous Limonite Smelting Garnierite Smelting Segment By Application Steel Industry Electroplating Industry Chemical Industry Others
Geographies Covered	North America Europe APAC Middle East and Africa LATAM
Companies Profiles	MMC Norilsk Nickel Vale SA BHP Billiton Jinchuan Group Glencore Sherritt International Corp Eramet SA Sumitomo Metal Mining Anglo American Minara Resources

The Nickel Nano Powder marketsize was valued at USD 356.5 USD Million in 2023 and is projected to reach USD 504.99 USD Million by 2032, exhibiting a CAGR of 5.1 % during the forecast period.Nano Nickel Powder (Ni) is a totally pleasant shape of nickel debris, typically with a particle size starting from some nanometers to three micrometers. It is produced through diverse physical or chemical techniques inclusive of mechanical grinding, chemical reduction, or electrolysis. Nano Nickel Powder is commonly used in numerous applications, which include the manufacturing of catalysts, batteries, and electronic gadgets, and as a conductive filler in composites and coatings. Its exceptional particle length gives more desirable floor location and reactivity, making it appropriate for plenty business strategies. Nickel powders are broadly used in industrial packages international, inclusive of rechargeable batteries, production and powder metallurgy nickel powders are used to add a magnetic characteristic to a specific material. Nickel may be utilized in electroplating and coinage industries as properly. There is a rising demand for nickel Nano powder inside the electronics enterprise because of its various packages including conductive coatings, sensors, and electromagnetic protective. Additionally, there's an growing need for superior substances, particularly nickel Nano powder, in sectors like automotive and aerospace, in which its superior properties which includes more desirable mechanical electricity, conductivity, and large surface place make it most effective over conventional nickel powders. Recent developments include: In January 2021, Tekna announced the launch of a new line of nickel nano powder products. The new products are designed for use in a variety of applications, including electronics, automotive, and aerospace. In February 2021, Sky Spring Nanomaterials, Inc. announced the completion of a new production facility for nickel nano powder. The new facility will increase the company's production capacity by 50%.. Key drivers for this market are: Growing Demand for the Product from Various Application Areas to Drive the Market Growth. Potential restraints include: High Cost of Production and Processing is Likely to Hamper the Market Growth. Notable trends are: Increasing demand for nickel nano powder in the electronics industry.

Global Nano Nickel Market Report 2021 comes with the extensive industry analysis of development components, patterns, flows and sizes. The report also calculates present and past market values to forecast potential market management through the forecast period between 2021-2027. The report may be the best of what is a geographic area which expands the competitive landscape and industry perspective of the market.

In 2021, the U.S. nickel market increased by X% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a abrupt decrease. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Graph and download economic data for Global price of Nickel (PNICKUSDM) from Jan 1990 to May 2025 about nickel, World, and price.

In 2021, the Omani nickel market increased by X% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2019 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the immediate term.

North America Nickel Silver Wire Market is expected to grow during 2025-2031

The Nickel Carbonate market is currently valued at around US$ 267.5 Million and is anticipated to progress at a remarkable CAGR of 5.6% to reach US$ 459.6 Mn by the year 2032. A remarkable growth in demand for electroplating is expected to emerge as a key driver propelling the sales of Nickel Carbonate over the next decade.

The sales of Nickel Carbonate are projected to achieve a year-on-year growth of 5.0% by the end of 2022. The extraordinary growth in demand for nickel carbonate owing to its increased consumption in various end-use industries that includes electroplating, catalyst, and a few others is expected to boost the sales with an approximate CAGR of 5.6% during the upcoming assessment period 2022 to 2032.

Attribute	Details
Base Year Value (2021A)	US$ 254.8 Million
Estimated Year Value (2022E)	US$ 267.5 Million
Projected Year Value (2032F)	US$ 459.6 Million
Value CAGR (2022 to 2032)	5.6%
Collective Value Share: Top 3 Countries (2022E)	49.1%

Scope Of Report

Attribute	Details
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	USD Million for Value and Tons for Volume
Key Countries Covered	USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, Northern Africa, South Africa
Key Segments Covered	Ni Content, Applications & Region
Key Companies Profiled	American Elements Liangren Chemicals Umicore Reullei Thermo fischer Scientific abcr GmbH Himalaya Industries Uma Chemicals Eramet jinchuan group Jiangxi Nuclear Industry Xingzhong New Material Co., Ltd Fairsky Industrial
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Cobalt traded flat at 33,335 USD/T on July 10, 2025. Over the past month, Cobalt's price has remained flat, but it is still 22.78% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.