Nickel rose to 15,224.38 USD/T on July 2, 2025, up 0.32% from the previous day. Over the past month, Nickel's price has fallen 1.62%, and is down 12.11% 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 July 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.

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.

Nickel prices in , May, 2025 For that commodity indicator, we provide data from January 1960 to May 2025. The average value during that period was 9308.26 USD per metric ton with a minimum of 1631 USD per metric ton in January 1960 and a maximum of 52179.05 USD per metric ton in May 2007. | TheGlobalEconomy.com

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

This statistic depicts the average monthly prices for nickel from January 2014 through January 2025. In January 2025, the average monthly price for nickel stood at ********* nominal U.S. dollars per metric ton.

In 2023, nickel had an average price of approximately 21,521 U.S. dollars per metric ton, a decrease of more than 4,000 U.S. dollars compared to the previous year. Top nickel producing regions In 2023, Indonesia produced the largest volume of nickel from mines in the world, totaling 1.8 million metric tons, while the Philippines produced 400,000 metric tons. Norilsk Nickel (also known as Nornickel) from Russia is one of the largest producers of nickel in the world. One of its largest mining operations is located in northern Russia within the Norilsk-Talnakh area. Nickel life cycle Nickel is a lustrous metal and is used for various applications, such as in plating metals, due to its resistance to corrosion. Nickel is not mined directly but is extracted from ores such as iron ore limonite. The metal can be extracted through roasting and reduction processes. Most often, nickel is used as part of nickel steels, including stainless steel, in alloys, and in electroplating. The worldwide consumption of nickel exceed three million metric tons in 2023. Historically, nickel has been used since 3500 BCE as a natural nickel-iron alloy.

In September 2022, the nickel ore price stood at $87.8 per ton (CIF, China), falling by -6.4% against the previous month.

Graph and download economic data for Global price of Nickel (PNICKUSDQ) from Q1 1990 to Q1 2025 about nickel, World, and price.

Global nickel prices in the first quarter (Q1) of 2023 stood at 26,033 U.S. dollars per metric ton. Since then, they have steadily declined, reaching approximately 16,271 U.S. dollars per metric ton of nickel in Q3 2024.

In June 2023, the price of Nickel was $25,839 per ton (FOB, Netherlands), showing a decrease of -1.6% compared to the previous month.

China Settlement Price: Shanghai Future Exchange: Nickel: 1st Month data was reported at 123,370.000 RMB/Ton in 13 May 2025. This records a decrease from the previous number of 124,620.000 RMB/Ton for 12 May 2025. China Settlement Price: Shanghai Future Exchange: Nickel: 1st Month data is updated daily, averaging 113,730.000 RMB/Ton from Mar 2015 (Median) to 13 May 2025, with 2461 observations. The data reached an all-time high of 263,290.000 RMB/Ton in 25 Mar 2022 and a record low of 62,400.000 RMB/Ton in 15 Feb 2016. China Settlement Price: Shanghai Future Exchange: Nickel: 1st Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price: Daily.

The price of Nickel Matte in May 2023 was $11,626 per ton (CIF, France), showing a decline of -3.9% compared to the previous month.

Nickel powder prices in the third quarter showcased a mixed trend in the US market amid the rising fears of recessions. According to market participants, LME

Transaction Price: Nickel, Number 1: Nanjing data was reported at 9.720 10TH RMB/Ton in Dec 2013. This records a decrease from the previous number of 9.880 10TH RMB/Ton for Nov 2013. Transaction Price: Nickel, Number 1: Nanjing data is updated monthly, averaging 11.450 10TH RMB/Ton from Feb 1998 (Median) to Dec 2013, with 179 observations. The data reached an all-time high of 44.300 10TH RMB/Ton in Apr 2007 and a record low of 4.800 10TH RMB/Ton in Jul 1999. Transaction Price: Nickel, Number 1: Nanjing data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PG: Nickel Price.

In April 2023, the Nickel price stood at $34,215 per ton (CIF, Poland), registering a decrease of -7.8% compared to the previous month.

In February 2023, the nickel price amounted to $29,090 per ton (CIF, India), growing by 7.3% against the previous month.

This statistic shows a forecast of the London Metal Exchange's cash price of nickel from 2015 to 2020. In 2020, it is predicted that the price of nickel will increase over 26,000 U.S. dollars per metric ton worldwide. Nickel is most commonly used for making steels, nonferrous alloys, and electroplating. It is also common in both industrial and commercial products.

CN: Transaction Price: Nickel, No 1: Hefei data was reported at 9.750 10TH RMB/Ton in Dec 2013. This records a decrease from the previous number of 9.780 10TH RMB/Ton for Nov 2013. CN: Transaction Price: Nickel, No 1: Hefei data is updated monthly, averaging 12.520 10TH RMB/Ton from Feb 1998 (Median) to Dec 2013, with 171 observations. The data reached an all-time high of 43.900 10TH RMB/Ton in Apr 2007 and a record low of 5.100 10TH RMB/Ton in Mar 2003. CN: Transaction Price: Nickel, No 1: Hefei data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PG: Nickel Price.

Cobalt traded flat at 33,335 USD/T on June 26, 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 July of 2025.