Nickel Commodity Price for 3-Month Forward Contract Falls to US$15,425 /Ton (Friday, 30 October 2026)
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The price of nickel commodity for 3-month forward contract for transactions on Friday, 30 October 2026 has decreased. Today's trading price for the 3-month forward nickel commodity contract was recorded at US$15,425 per ton. This figure is lower than the previous trading day which stood at US$15,550 per ton. This current condition completes the downward price trend for 3-month forward nickel commodity contracts over the past two days.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded a -3.83% change, with an average daily transaction price of US$15.74 thousand per ton. Meanwhile, compared to prices at the start of the year, this nickel commodity price has fallen by 8.81%. Even from its highest annual price of US$19,675 per ton, the 3-month forward nickel commodity contract price has dropped by 21.6%.
(Read: 3-Month Wheat Contract Price - US Wheat Futures Falls to 603.5 Bushel (Friday, 30 October 2026))
On an annual basis, the average trading price for 3-month forward nickel commodity contracts has been on a downward trend over the last five years. 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 supply volumes 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 mostly 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, nickel price trends have tended to decline (weakening).
Nickel miners are currently under pressure as smelters purchase ore below the reference price, while royalties are still paid according to the official benchmark price. as reported by Katadata "Based on the HPM price basis, but smelters are currently purchasing below the HPM price." This issue is threatening the business continuity of local miners.
The 2026 nickel production quota increase was officially set by the government following the RKAB revision. This step was taken amid ongoing global market evaluations. as reported by Katadata "The total is between 290 million to around 300 million tons," stated Director General of Minerals and Coal Tri Winarno.
"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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