Nickel Commodity Price for 3-Month Forward Contracts Declined Over the Last Seven Days
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The price of nickel commodity for 3-month forward contracts for Friday, 02 October 2026 transactions declined. Today's trading price for 3-month forward nickel commodity contracts was recorded at US$15,625 per ton. This figure is lower than the previous trading day's level of US$15,760 per ton. This current condition follows the price movement trend of 3-month forward nickel commodity contracts which has been contracting over the last seven days.
Over the past week, the price movement of nickel commodity for 3-month forward contracts changed by -5.87%, with an average daily transaction price of US$16,065 per ton. As a result, throughout 2026 nickel commodity prices have fallen by 7.63% from the start of year level of US$16,915 per ton. Meanwhile, the highest trading value for nickel commodity this year was recorded at US$19,675 per ton, reached on Wednesday, 06 May 2026.
On an annual basis, the average trading price for 3-month forward nickel commodity contracts has been on a downward trend over the last five years. Meanwhile, for monthly price monitoring, transactions over the past 12 months have tended to increase. The highest recorded monthly average price for nickel commodity 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 large supply 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, therefore domestic policies directly impact global prices.
Why Can Nickel Prices Rise or Fall Today?
Daily nickel prices are mostly 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, the nickel price trend has generally contracted (weakened).
Global green funding flows are currently accelerating domestic nickel downstream industrialization. as reported by Katadata "oversubscribed 1.7 times in the syndicated loan market", this serves as a strong signal of investor confidence in sustainable mining operations.
The 2017-2020 nickel governance corruption case has resurfaced after the Attorney General's Office arrested the former ESDM Ministry Secretary General as the fifth suspect. as reported by Katadata "Legal action is being carried out thoroughly, professionally and accountably while upholding the principle of prudence and the presumption of innocence," stated the Attorney General's Office.
"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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