Nickel Commodity Price for 3-Month Forward Contract Traded at US$15,355 /Ton in Morning Session (Friday, 16 October 2026)
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The nickel commodity price for 3-month forward contracts for trades on Friday, 16 October 2026 increased. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,355 per ton. This figure is higher than the previous trading day which stood at US$15,125 per ton. Current conditions align with the price movement of 3-month forward nickel commodity contracts over the last 1 day which is on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded a -3.06% change, with an average daily transaction price of US$15.55 thousand per ton. Meanwhile, compared to prices at the start of the year, this nickel commodity price has changed by -9.22%. Even from its highest price this year at US$19,675 per ton, the 3-month forward nickel commodity contract price has fallen by 21.96%.
(Read: Palladium Price - Palladium Rises Towards US$1,121 /Troy Ounce Level (Thursday, 15 October 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 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. 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?
Daily nickel prices are largely driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US dollar movements and the Chinese economy. Over the last 30 days, the nickel price trend has tended to decline (weakening).
Indonesia's nickel downstreaming policy continues with the launch of 11 new projects at IWIP. as reported by Katadata "Indonesia's economy grew by 32.1% up to 2024" thanks to this policy. Indonesia now controls 58% of global nickel production.
The nickel governance corruption case for the 2017-2020 period resurfaced after the CEO of PT CNI was named a suspect. as reported by Katadata "The purpose of naming Derian as a suspect is so that we can maximise recovery of state losses," stated the Attorney General's Office. This case involves violations of nickel export regulations.
"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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