Nickel Commodity Price for 3-Month Forward Contract Traded at US$15,720 /Ton in Morning Session (Friday, 09 October 2026)
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Nickel commodity price for 3-month forward contracts for Friday, 09 October 2026 trades higher. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,720 per ton. This figure is higher than the previous trading day which stood at US$15,600 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 -2.12% change, with an average daily transaction price of US$15.71 thousand per ton. Meanwhile compared to positions 30 days ago, nickel commodity prices have moved -6.65%. For the year to date, the highest trading value for nickel commodities was ever transacted at US$19,675 per ton, recorded on Wednesday, 06 May 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 last 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 supply volumes from Indonesia as the world's largest nickel producer on the other. Downstream industrialization policies, 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, therefore 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 movements and China's economic conditions. Over the last 30 days, nickel price trends have generally declined (weakened).
A cross-stakeholder forum in Kendari discussed fair governance for Indonesia's nickel industry. as reported by Katadata "cross-stakeholder collaboration is the only way" to ensure nickel benefits are distributed evenly.
Sustainable nickel downstream projects are now receiving positive confidence signals from global financial markets. as reported by Katadata "1.7x oversubscription in the syndicated loan market" reflects strong funding enthusiasm for this sector.
"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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