Nickel Commodity Price for 3-Month Forward Contract Traded at US$15,720 /Ton This Morning (Friday, 09 October 2026)
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Westmetall recorded that the price of nickel commodity for 3-month forward contracts rose 0.77% today to reach the level of US$ 15,720 per ton. This price increase is relatively high compared to the average price movement over the past week.
This week, nickel commodity prices recorded their highest surge on Friday, 09 October 2026 at 0.77%. Meanwhile, trade recorded since the start of the year has continued to decline, with year to date growth falling by 7.06%.
(Read: Wheat Price 3-Month Contract - US Wheat Futures Fell Over the Last Three Days)
Current conditions are similar to the price movement of 3-month forward nickel commodity contracts over the past day, which is currently on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew by -2.12%, with an average daily transaction price of US$15.71 thousand per ton. Meanwhile, compared to prices at the start of the year, this nickel commodity price has recorded a -7.06% change. Even from its highest price this year at US$19,675 per ton, the 3-month forward nickel commodity contract price has fallen by 20.1%.
On an annual basis, the average trading price of 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$19.01 thousand per ton.
Factors Affecting Nickel Prices
Nickel prices are influenced by surging demand for electric vehicle (EV) batteries on one hand, and the size of supply from Indonesia as the world's largest nickel producer on the other. Downstreaming policies and ore export bans, smelter expansions, as well as stainless steel demand are the main drivers.
What is Nickel and Why is its Price Monitored?
Nickel is a metal traded with reference to the London Metal Exchange (LME) and is a strategic raw material for batteries and stainless steel. Indonesia holds the world's largest nickel reserves and production, so domestic policies directly impact global prices.
Why Can Nickel Prices Rise or Fall Today?
Daily nickel prices are largely driven by EV battery demand, Indonesian smelter supply dynamics, stainless steel prices, as well as US dollar trends and the Chinese economy. Over the past 30 days, nickel price trends have tended to decline (weakening).
A multi-stakeholder forum was held in Kendari to discuss equitable nickel governance for national downstreaming. as reported by Katadata "cross-stakeholder collaboration is the only way for development benefits to be distributed fairly".
Vale Indonesia has just secured a large-scale sustainable loan for nickel downstreaming. as reported by Katadata "the sustainability-linked loan (SLL) amounts to US$ 750 million" from 14 international banks. This move forms market context for nickel price movements.
"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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