Last Three Days, Nickel Commodity Price for 3-Month Forward Contracts Continued to Rise
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The price of nickel commodity for 3-month forward contracts for Wednesday, 07 October 2026 transactions increased. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,840 per ton. This figure is higher compared to the previous trading day which stood at US$15,720 per ton. Current conditions align with the price movement of 3-month forward nickel commodity contracts over the last three days which is on a downward trend.
Over the past week, the price movement of nickel commodity for 3-month forward contracts recorded a -2.34% change, with an average daily transaction price of US$ 15,830 per ton. Meanwhile compared to the position 30 days ago, nickel commodity price movement has changed by -6.49%. Even from this year's peak price of US$19,675 per ton, the price of 3-month forward nickel commodity contracts has fallen by 19.49%.
On an annual basis, the average trading price of 3-month forward nickel commodity contracts over the last five years is on a downward trend. Meanwhile, for monthly price monitoring, transactions over the past 12 months have tended to rise. The highest recorded monthly average price for nickel commodity was noted in May 2026 at US$ 19,010 per ton.
Factors Affecting Nickel Prices
Nickel prices are influenced by surging demand for electric vehicle (EV) batteries on one side, and the scale of supply from Indonesia as the world's largest nickel producer on the other. Downstream industrialization policies, ore export bans, smelter expansions, as well as stainless steel demand are the main drivers.
What is Nickel and Why is its Price Monitored?
Nickel is a metal traded with reference to the London Metal Exchange (LME), and is a strategic raw material for batteries and stainless steel. Indonesia holds the world's largest nickel reserves and production, so domestic policies directly impact global prices.
Why Can Nickel Prices Rise or Fall Today?
(Read: Silver Price Rises Towards US$60.428 per Troy Ounce (Thursday, 08 October 2026))
Daily nickel prices are largely driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US Dollar trends and the Chinese economy. Over the last 30 days, the nickel price trend has generally been declining (weakening).
PT Vale Indonesia secured a large-scale sustainable loan to accelerate green nickel downstream industrialization at the end of last April. as reported by Katadata "oversubscribed 1.7 times in the syndicated loan market", reflecting global investor enthusiasm for the domestic sustainable nickel sector.
A nickel governance corruption case resurfaced after the Attorney General's Office arrested the former Secretary General of the Ministry of Energy and Mineral Resources as the fifth suspect. as reported by Katadata "Legal action is being carried out thoroughly, professionally and accountably".
"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."
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