Nickel Commodity Price for 3-Month Forward Contract Drops to US$16,180 /Ton (Friday, 18 September 2026)
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The price of nickel commodity for 3-month forward contract for trades on Friday, 18 September 2026 has decreased. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$16,180 per ton. This figure is lower than the previous trading day's level of US$16,350 per ton. Current conditions follow the contracting price trend for 3-month forward nickel contracts observed over the past day.
Over the last week, the price movement of 3-month forward nickel commodity contracts changed by -3.86%, with an average daily transaction price of US$16.37 thousand per ton. As a result, throughout 2026 nickel commodity prices have fallen 4.35% from the start-of-year level of US$16,915 per ton. Even from this year's peak price of US$19,675 per ton, 3-month forward nickel contract prices have dropped by 17.76%.
On an annual basis, the average trading price for 3-month forward nickel commodity contracts over the past five years is on a downward trend. Meanwhile, for monthly price monitoring, transactions over the last 12 months have tended to rise. The highest recorded monthly average nickel commodity price was noted 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 supply volumes from Indonesia as the world's largest nickel producer on the other. Downstream industrialization policies, ore export bans, smelter expansions, and 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 mostly driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US Dollar movements and China's economic conditions. Over the past 30 days, nickel price trends have tended to contract (weaken).
Indonesia's nickel industry still faces obstacles in implementing downstream industrialization despite holding the world's largest reserves. as reported by Katadata "Indonesia has the resources. Unfortunately Indonesia does not have the technology to further process nickel," stated the INCO Director.
Listed firm PACK is preparing to expand its integrated nickel business, becoming a new competitor to ANTM and INCO in the domestic market. as reported by Katadata "This strategy is intended to create greater operational synergies". This move will impact the domestic competitive landscape and national nickel prices.
"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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