Nickel Commodity Price for 3-Month Forward Contract Rises to US$16,600 /Ton (Wednesday, 23 September 2026)
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Nickel commodity price for 3-month forward contracts for trades on Wednesday, 23 September 2026 increased. Trading price for 3-month forward nickel commodity contracts today was recorded at US$16,600 per ton. This figure is higher than the previous trading day which stood at US$16,540 per ton. Current conditions align with the price movement of 3-month forward nickel commodity contracts over the last three days which is on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew 1.22 percent, with an average daily transaction price of US$16.35 thousand per ton. Meanwhile compared to the position 30 days ago, nickel commodity price movement has recorded a -1.43 percent growth. For this year to date, the highest trading value for nickel commodities was ever transacted at US$19,675 per ton which occurred on Wednesday, 06 May 2026.
(Read: Silver Price Drops to US$64.397 /Troy Ounce (Thursday, 24 September 2026))
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 commodities 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 the scale of supply from Indonesia as the world's largest nickel producer on the other. Downstreaming policies and ore export bans, smelter expansion, 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 have a direct impact on 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 direction and the Chinese economy. Over the last 30 days, the nickel price trend has tended to decline (weakening).
The nickel industry is the main pressure threatening Indonesia's nature conservation targets. as reported by Katadata "Even though conservation area coverage continues to increase, Indonesia's forests, seas, and Indigenous Communities continue to be pressured by the nickel industry."
Domestic stock exchange movements act as an indicator of nickel market sentiment. as reported by Katadata "crossing transactions occurred on nickel mining stocks" when the IHSG weakened at the close of trading on Monday (21/8).
"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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