Nickel Commodity Price for 3-Month Forward Contract Traded This Morning at US$16,180 /Ton (Friday, 18 September 2026)
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Westmetall recorded that the price of nickel commodity for 3-month forward contracts fell 1.04% today to the level of US$ 16,180 per ton. This price drop is relatively large compared to the average price movement over the past week.
Throughout this week, nickel commodity prices recorded the 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 down 4.35%.
Current conditions are similar to the price movement of 3-month forward nickel commodity contracts over the last one day, which is on a downward trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded -3.86% growth, with an average daily transaction price of US$16.37 thousand per ton. As a result, throughout 2026, nickel commodity prices have fallen by 4.35% from the start of year position at US$16,915 per ton. Even from its highest price this year at US$19,675 per ton, the 3-month forward nickel commodity contract price has dropped by 17.76%.
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 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 side, and the large 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 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 direction and the Chinese economy. Over the last 30 days, the nickel price trend has tended to contract (weakening).
Indonesia, with the world's largest nickel reserves, is still hampered in meeting industrial downstreaming targets. as reported by Katadata "Indonesia has the resources. Unfortunately Indonesia does not have the technology to process nickel further," stated the Vale Indonesia director.
Nickel issuer PACK, owned by Haji Isam, is preparing integrated expansion, becoming a new competitor to ANTM and INCO. as reported by Katadata "This strategy is aimed at creating greater operational synergy as well as increasing the value that can be obtained by the company," wrote PACK 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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