In 2023, shipments abroad of unwrought nickel increased by 13% to 30K tons for the first time since 2020, thus ending a two-year declining trend.

Nickel rose to 15,230 USD/T on June 27, 2025, up 0.53% from the previous day. Over the past month, Nickel's price has risen 0.89%, but it is still 11.92% 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 June of 2025.

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.

After three years of growth, overseas shipments of nickel powders and flakes decreased by -47.3% to 5.7K tons in 2023.

In 2024, the value generated from the import of nickel mattes, nickel oxide sinters, and intermediate products of nickel in the United Kingdom increased by 16.7 million British Pounds (+5.49 percent) compared to 2023. In total, the value amounted to 321.5 million British Pounds in 2024.

After three years of growth, shipments abroad of nickel ores and concentrates decreased by -54.9% to 36 tons in 2023.

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After starting the period with a peak of just above one million British pounds, the value of nickel ore and concentrate exported worldwide by the United Kingdom dramatically decreased in the following years. As of 2023, the export value of these products amounted to 23,000 British pounds.

In 2024, the UK nickel market decreased by -31.9% to $254M, falling for the second consecutive year after two years of growth. In general, consumption continues to indicate a perceptible contraction. Nickel consumption peaked at $512M in 2019; however, from 2020 to 2024, consumption failed to regain momentum.

Indonesia Export: Value: Nickel: United Kingdom data was reported at 0.004 USD mn in Apr 2019. This records an increase from the previous number of 0.003 USD mn for Sep 2018. Indonesia Export: Value: Nickel: United Kingdom data is updated monthly, averaging 0.010 USD mn from Feb 2012 (Median) to Apr 2019, with 34 observations. The data reached an all-time high of 0.422 USD mn in Mar 2012 and a record low of 0.000 USD mn in Nov 2012. Indonesia Export: Value: Nickel: United Kingdom data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Foreign Trade – Table ID.JAE023: Export: Commodities by Country: Nickel.

The value generated from the import of nickel-metal hydride accumulators in the United Kingdom decreased to 27.5 million British Pounds compared to the previous year. As a result, the value in the United Kingdom saw its lowest number in 2024 with 27.5 million British Pounds. Notably, the value in this industry is continuously decreasing over the last years.

In 2024, the value generated from the export of nickel-metal hydride accumulators in the United Kingdom decreased by 2.3 million British Pounds (-17.23 percent) compared to 2023. Therefore, 2024 marks the lowest value in this industry during the observed period.

The value generated from the import of nickel-cadmium electric accumulators in the United Kingdom saw no significant changes in 2024 in comparison to the previous year 2023 and remained at around 52.9 million British Pounds. In comparison to 2023, the value decreased not significantly by 605 thousand British Pounds (-1.13 percent).

For the fourth consecutive year, the UK recorded growth in supplies from abroad of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators, which increased by 23% to 169M units in 2023.

The Other Non-Ferrous Metal Production industry's revenue is expected to hike at a compound annual rate of 4.2% over the five years through 2024-25 to £2.2 billion. Owing mostly to soaring non-ferrous metal price inflation in 2022-23 due to the Russia-Ukraine conflict. Since Russia and (to a lesser degree) Ukraine are both major exporters of ores containing nickel, titanium and other non-ferrous metals, the Russia-Ukraine conflict has significantly disrupted the global market for these metals, driving up costs and inflating revenue. The industry's revenue is estimated to swell by 5.8% in 2024-25 to £1.8 billion, with the average industry profit margin set to hike to 2.8%. Ralling downstream demand in some key markets like vehicle and aircraft manufacturing are set to support demand for nickel, titanium and other non-ferrous metals. However, persistently high inflation, high interest rates and low consumer confidence are set to limit growth opportunities in the short term. As the prices of nickel, titanium and other metals normalise in 2024-25, non-ferrous metal producers’ profitability is set to inch up. The industry's revenue is expected to grow at a compound annual rate of 3.4% to £2.6 billion over the five years through 2029-30. A key contributor to the Other Non-Ferrous Metal Production industry is the increased activity in the aerospace manufacturing sector, with aircraft manufacturers receiving large orders from airlines that held off on purchases during the pandemic. Continued use of nickel in stainless steel will provide a vital source of revenue for metal producers. However, a quota on steel exported to the EU and strong global competition are likely to limit UK stainless steel export growth. The need for nickel to make lithium-ion batteries used in electric vehicles presents a potential opportunity for the industry to expand and is set to be a key demand driver in the coming years.

The value generated from the export of nickel-cadmium electric accumulators in the United Kingdom increased by 2.8 million British Pounds (+9.99 percent) compared to the previous year. Therefore, the value in the United Kingdom reached a peak in 2024 with 30.3 million British Pounds.

The UK market for nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer, and nickel-iron accumulators is expected to experience steady growth over the next decade, with a projected CAGR of +1.6% in volume and +2.5% in value from 2024 to 2035. By the end of 2035, the market is forecasted to reach 123M units and $3.5B in value.

In 2023, shipments abroad of nickel mattes decreased by -43.7% to 9.4 tons, falling for the second consecutive year after two years of growth.

The UK nickel matte market is expected to experience an upward consumption trend over the next decade, with a projected increase in market volume to 2K tons and market value to $35M by 2035.

Cobalt traded flat at 33,335 USD/T on June 19, 2025. Over the past month, Cobalt's price has fallen 1.08%, 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 June of 2025.