Nickel Commodity Price for 3-Month Forward Contract Rises to US$15,680 /Ton (Wednesday, 14 October 2026)
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Nickel commodity price for 3-month forward contracts for trades on Wednesday, 14 October 2026 increased. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,680 per ton. This figure is higher than the previous trading day which stood at US$15,630 per ton. Current conditions align with the price movement of 3-month forward nickel commodity contracts over the last one day which is on a downward trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew by -0.06% with an average daily transaction price of US$15.7 thousand per ton. As a result throughout 2026, nickel commodity prices have fallen 7.3 percent from the start of year level at US$16,915 per ton. Meanwhile for this year, the highest trading value for nickel commodities was ever transacted at US$19,675 per ton which occurred on Wednesday, 06 May 2026.
On an annual basis, the average trading price of 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 tend to increase. The highest monthly average price for nickel commodities 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 large supply from Indonesia as the world's largest nickel producer on the other. Downstreaming 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 to US$56.193 /Troy Ounce (Thursday, 15 October 2026))
Daily nickel prices are largely driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US dollar direction and the Chinese economy. Over the past 30 days, nickel price trends have tended to decline (weakening).
Nickel downstreaming has continued to drive increases in the export value of this commodity in recent years. as reported by Katadata "In 2026 I am targeting a minimum of US$ 45 billion, this is just one commodity," stated Coordinating Minister Bahlil.
A multi-stakeholder forum in Kendari discussed directions for fair national nickel governance. as reported by Katadata "cross-stakeholder collaboration is the only way so that development benefits are distributed fairly".
"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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