Nickel Commodity Price for 3-Month Forward Contract Traded at US$16,250 /Ton This Morning (Wednesday, 16 September 2026)
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The nickel commodity price for 3-month forward contracts on Wednesday, 16 September 2026 remained unchanged. Today's trading for 3-month forward nickel commodity contracts was recorded at US$16,250 per ton. This figure is unchanged compared to the previous trading day which also stood at US$16,250 per ton. Currently, the price movement of 3-month forward nickel commodity contracts over the last 0 days is on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded a -3.01% change, with an average daily transaction price of US$16.53 thousand per ton. Meanwhile compared to the position 30 days ago, nickel commodity prices have moved -6.12%. Even from this year's peak price of US$19,675 per ton, 3-month forward nickel commodity contract prices have fallen by 17.41%.
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 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 hand, and supply volumes from Indonesia as the world's largest nickel producer on the other. Downstream industrialization 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?
(Read: Silver Price Traded at US$63.57 /Troy Ounce This Morning (Thursday, 17 September 2026))
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 generally declined (weakened).
Despite holding the world's largest nickel reserves, Indonesia still faces constraints in its national nickel industry downstream program. as reported by Katadata "Indonesia has the resources. Unfortunately Indonesia does not have the technology to further process nickel," stated the President Director of INCO.
Issuer PACK, owned by Haji Isam, is preparing to expand integrated nickel production capacity, making it a new competitor to major industry players such as ANTM and INCO. as reported by Katadata "This strategy is intended to create greater operational synergies and increase the value that can be obtained by the company."
"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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