Nickel Commodity Prices for 3-Month Futures Contracts Continue to Rise Over the Past 12 Days
- A Small Font
- A Medium Font
- A Bigger Font
The price of nickel for the 3-month forward contract increased on Thursday, October 3, 2024. Trading of the 3-month forward nickel contract today was recorded at US$18,225 per ton. This is higher than the previous day's trade, which was at US$18,000 per ton. This situation completes the upward trend of the 3-month forward nickel contract price over the past 12 days.
Over the past week, the price of the 3-month forward nickel contract has grown by 9.3 percent, with an average daily transaction price of US$17,380 per ton. Compared to its position 30 days ago, the price of nickel has grown by 7.84 percent. Even from its highest price this year at US$21,650 per ton, the price of the 3-month forward nickel contract has fallen by 15.82 percent.
Annually, the average trading price of the 3-month forward nickel contract has been on an upward trend over the past five years. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to increase. The highest average monthly price of nickel was recorded in May 2024 at US$19,770 per ton.
The Coordinating Ministry for Maritime Affairs and Investment recorded that in the first half of 2023, the value of nickel and its derivative exports year-to-date reached US$19.47 billion, or the equivalent of Rp 301 trillion. In 2022, the value of these exports reached US$34.28 billion, or Rp 530.1 trillion. Nickel and its derivative exports are predicted to increase up to 20 times by 2025 due to the Indonesian government's downstreaming program.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
Related Data
Latest Data Stories
Trending Topics
Popular Data