Nickel Commodity Price for 3-Month Forward Contracts Declined Over the Last Five Days
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The nickel commodity price for 3-month forward contracts for Wednesday, 30 September 2026 transactions declined. Today's trading price for nickel 3-month forward contracts was recorded at US$16,060 per ton. This figure is lower than the previous trading day's level of US$16,085 per ton. This current condition follows the price trend of nickel 3-month forward contracts which has been contracting over the last five days.
Over the past week, the price movement of nickel commodity 3-month forward contracts changed by -1.26%, with an average daily transaction price of US$16.32 thousand per ton. As a result, throughout 2026 nickel commodity prices have fallen by 5.05% from the start of year level of US$16,915 per ton. Even from this year's peak price of US$19,675 per ton, nickel 3-month forward contract prices have dropped by 18.37%.
(Read: Three Month Coffee Contract Price - US Coffee C Futures Rises For Four Consecutive Days)
On an annual basis, the average trading price for nickel 3-month forward contracts has been on a downward trend over the last five years. Meanwhile, for monthly price monitoring, transactions over the past 12 months have trended upwards. The highest recorded monthly average nickel commodity price 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 large supply volumes from Indonesia as the world's largest nickel producer on the other. Downstream industrialization policies, ore export bans, smelter expansion, as well as stainless steel demand are the main driving factors.
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 volume, so domestic policies directly impact global prices.
Why Can Nickel Prices Rise or Fall Today?
(Read: Silver Price Rises Towards US$60.985 / Troy Ounce (Thursday, 01 October 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 China's economic conditions. Over the last 30 days, nickel price trends have generally contracted (weakened).
Vale securing green credit illustrates the push for national nickel downstream industrialization. as reported by Katadata "oversubscribed 1.7 times in the syndicated credit market" reflects global confidence in the sustainable nickel sector.
The nickel governance corruption case for the 2017-2020 period has developed further with the arrest of former ESDM Secretary General Teguh Pamudji as the fifth suspect. as reported by Katadata "Legal action is being carried out thoroughly, professionally and accountably" in handling this case.
"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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