Nickel Commodity Price for 3-Month Forward Contract Traded at US$16,140 /Ton in Morning Trade (Wednesday, 11 November 2026)
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Nickel commodity price for 3-month forward contracts for Wednesday, 11 November 2026 transactions increased. Trading price for 3-month forward nickel contracts today was recorded at US$16,140 per ton. This figure is higher than the previous trading day which stood at US$16,075 per ton. Current conditions align with the upward trend observed for 3-month forward nickel contract prices over the last 24 hours.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew 4.13 percent with an average daily transaction price of US$16,030 per ton. As a result throughout 2026, nickel commodity prices have fallen 4.58 percent from the start of year level at US$16,915 per ton. Meanwhile for this year, the highest trading value for nickel commodities was ever recorded at US$19,675 per ton, which occurred on Wednesday, 06 May 2026.
(Read: Silver Price Traded at US$51.693 /Troy Ounce in Morning Trade (Thursday, 12 November 2026))
On an annual basis, the average trading price for 3-month forward nickel contracts over the last five years is on a downward trend. Meanwhile, for monthly price monitoring, transactions over the past 12 months have also tended to decline. 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. 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 China's economic conditions. Over the past 30 days, nickel price trends have tended to rise (bullish).
The government will include NPI and ferronickel under the DSI single-window export supervision system due to matching HS codes for both nickel products. as reported by Katadata "Under Indonesia's HS code classification, ferronickel and NPI share the same code".
Nickel smelter business actors have welcomed the single-window export scheme following clarification that DSI will act as an intermediary, not a sole exporter. as reported by Katadata "Acting as the sole intermediary is actually the best role for DSI at this time," stated FINI Chairman Arif Perdana.
"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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