Nickel Commodity Price for 3-Month Forward Contract Traded at US$16,350 /Ton in Morning Session (Thursday, 17 September 2026)
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Westmetall recorded that the price of nickel commodity for 3-month forward contracts rose 0.62% today to reach the level of US$ 16,350 per ton. This price increase is relatively high compared to the average price movement over the past week.
Yesterday, nickel commodity prices recorded their highest surge on Thursday, 17 September 2026 at 0.62%. Meanwhile, trading since the start of the year has continued to decline, with year to date growth falling by 3.34%.
(Read: Silver Price Rises for Three Consecutive Days)
Current conditions are similar to the price movement of 3-month forward nickel commodity contracts over the last 1 day, which is currently on a declining trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts grew by -2.79%, with an average daily transaction price of US$16,465 per ton. Calculations from Katadata Insight Center (KIC) show that year-to-date (year-to-date/ytd), this nickel commodity price has fallen by 3.34%. Meanwhile, throughout this year, the highest trading value for nickel commodities was ever transacted at US$19,675 per ton, which occurred on Wednesday, 06 May 2026.
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 side, and the volume of supply 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 have a direct impact on global prices.
Why Can Nickel Prices Rise or Fall Today?
Daily nickel prices are largely driven by EV battery demand, supply dynamics from Indonesian smelters, 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, as the holder of the world's largest nickel reserves, still faces technological barriers in its industrial downstreaming program. as reported by Katadata "Indonesia has the resources. Unfortunately Indonesia does not have the technology to process nickel further".
The domestic nickel industry is seeing new competitors preparing integrated expansion. as reported by Katadata "This strategy is intended to create greater operational synergy as well as increase the value that can be obtained by the company," stated the management.
"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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