Nickel Commodity Price for 3-Month Forward Contract Drops to US$15,625 /Ton (Friday, 02 October 2026)
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Nickel commodity price for 3-month forward contracts for transactions on Friday, 02 October 2026 has decreased. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,625 per ton. This figure is lower than the previous trading day which stood at US$15,760 per ton. Current conditions align with the price movement of 3-month forward nickel commodity contracts over the past seven days, which is on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded a -5.87% change, with an average daily transaction price of US$16,065 per ton. Meanwhile, compared to prices at the start of the year, this nickel commodity price has changed by -7.63%. Even from its highest price this year at US$19,675 per ton, the 3-month forward nickel commodity contract price has fallen by 20.58%.
On an annual basis, the average trading price for 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 recorded in May 2026 at US$19.01 thousand 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?
Daily nickel prices are largely driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US dollar movements and the Chinese economy. Over the past 30 days, the nickel price trend has tended to decline (weakening).
The push for Indonesia's green nickel downstream industrialization has received large global funding support since late April. as reported by Katadata "recorded an oversubscription of 1.7 times in the syndicated loan market."
The nickel governance corruption case for the 2017-2020 period resurfaced following the arrest of the former Secretary General of the Ministry of Energy and Mineral Resources. as reported by Katadata "Legal action is being carried out thoroughly, professionally and accountably". Handling of this case also affects market perceptions of the national nickel industry.
"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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