Nickel Commodity Price for 3-Month Forward Contract Rises to US$16,280 /Ton (Friday, 06 November 2026)
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The price of nickel commodity for 3-month forward contract for trades on Friday, 06 November 2026 increased. Today's trading price for the 3-month forward nickel commodity contract was recorded at US$16,280 per ton. This figure is higher than the previous trading day which stood at US$16,265 per ton. Current conditions follow the upward trend seen in the 3-month forward nickel contract price movements over the past three days.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew 3.37 percent, with an average daily transaction price of US$15.72 thousand per ton. Calculations from Katadata Insight Center (KIC) show that year-to-date (ytd), this nickel commodity price has contracted by -3.75%. Meanwhile, the highest trading value for this nickel commodity this year was recorded at US$19,675 per ton, reached on Wednesday, 06 May 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 also generally trended downwards. The highest recorded monthly average price for nickel commodity was 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 hand, 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 largely 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 last 30 days, nickel prices have generally trended upwards.
NPI and ferronickel will be placed under DSI single-window export supervision. This policy is implemented as both nickel products share the same trade HS code. as reported by Katadata "Under Indonesia's HS code classification, ferronickel and NPI use the same code."
The DSI single-window nickel export scheme has begun socialization, with industry players welcoming the clarity on this agency's role. as reported by Katadata "Acting as the single intermediary is indeed the best approach for DSI at this time," stated a nickel industry representative.
"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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| Name | Value | % | |
|---|---|---|---|
| Inflasi yoy (Okt) | 3,23% | -0.05 | |
| Inflasi mom (Agu) | 0,21% | +0.35 | |
| Economic growth | 5,11% | +0.08 | |
| Pertumbuhan ekonomi (yoy) (Q1) | 5,61% | +4.08 | |
| Persentase kemiskinan (Mar) | 8,07% | -0.18 | |
| Gini rasio (Sem2) | 0,38 | 0.00 | |
| Nilai Tukar USDIDR | 18.132 | +0.29 | |
| PDB ADHK (Q2) | 3.576,20 | +3.73 | |
| Ekspor Migas (Sep) | 951,70 | -4.08 | |
| Neraca perdagangan (Sep) | 3,36 | -5.51 | |
| Impor Migas (Sep) | 3,27 | -7.35 | |
| Ekspor (Sep) | 27,59 | +3.68 | |
| Impor (Sep) | 24,23 | +5.09 | |
| Kunjungan Wisman (Sep) | 1,43 | -10.79 | |
| NTP (Jul) | 116,16 | +1.32 |
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