3-Month Nickel Commodity Price Traded at US$17,575/Ton in the Morning (Wednesday, March 04, 2026)

Westmetall recorded that the 3-month forward nickel commodity price rose 2.6% today to the level of US$17,575 per ton. This price increase is quite high compared to the average price movement over the past week.

Yesterday, the nickel commodity price saw its highest jump on Wednesday, March 04, 2026, reaching 2.6%. Meanwhile, trading since the start of the year has strengthened with a year-to-date growth of 3.9%.

(Read: 3-Month Wheat Contract Price - US Wheat Futures Rise to 570.6 Bushel Level (Thursday, March 05, 2026))

The current condition is similar to the movement of the 3-month forward nickel commodity price over the last day, which is in an uptrend.

Over the past week, the 3-month forward nickel commodity price movement grew 0.03% with an average daily transaction price of US$17,670 per ton. As a result, throughout 2026, the nickel commodity price has risen 3.9% from the start-of-year level of US$16,915 per ton. Even from this year's highest price of US$17,350 per ton, the 3-month forward nickel commodity price has fallen 1.3%.

Annually, the average trading price of the 3-month forward nickel commodity over the past five years has been in a downward trend. Meanwhile, for monthly price monitoring, transactions over the last 12 months tend to rise. The highest average monthly nickel commodity price was recorded in January 2026 at US$18,030 per ton.

(Read: Silver Price Traded at US$84,677/Troy Ounce in the Morning (Thursday, March 05, 2026))

Citing previous Katadata news, Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan projected that the value of nickel derivative exports could reach US$60 billion or around Rp927.84 trillion in 2025. This is due to the downstreaming of nickel into electric vehicles (EVs). In 2022, the value of nickel and its derivative exports reached US$34.28 billion or Rp530.1 trillion.