Nickel Commodity Price for 3-Month Forward Contracts Falls to US$15,125 /Ton (Thursday, 15 October 2026)
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Westmetall recorded that the price of nickel commodity for 3-month forward contracts fell by 3.54% today to the level of US$ 15,125 per ton. This price drop is relatively large compared to the average price movement over the past week.
This week, nickel commodity prices recorded their highest surge on Wednesday, 14 October 2026 at 0.32%. Meanwhile, trade since the start of the year has continued to decline, with year to date growth down 10.58%.
(Read: Silver Price Rises to US$57.318 /Troy Ounce (Friday, 16 October 2026))
Current conditions mirror the price movement of 3-month forward nickel commodity contracts over the last 1 day, which is on a downward trend.
Over the past week, the price movement of 3-month forward nickel commodity contracts recorded -3.78% growth, with an average daily transaction price of US$15.62 thousand per ton. Meanwhile, compared to prices at the start of the year, this nickel commodity price has recorded -10.58% growth. Throughout this year, the highest traded value for nickel commodities was recorded 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 monthly average price for nickel commodities 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. Downstreaming policies, ore export bans, smelter expansions, and demand for stainless steel are the main drivers.
What is Nickel and Why is its Price Monitored?
(Read: US Soybeans Two-Month Futures Contracts Fall For Four Consecutive Days)
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, supply dynamics at Indonesian smelters, stainless steel prices, as well as US dollar movements and the Chinese economy. Over the past 30 days, nickel price trends have tended to decline (weakening).
A corruption case regarding nickel governance was uncovered again following the naming of the CEO of PT CNI as a suspect. as reported by Katadata "The purpose of naming Derian as a suspect is so that we can maximise recovery of state losses," stated an Attorney General's Office representative.
Downstreaming is the government's main strategy to boost the value of Indonesia's nickel exports. as reported by Katadata "Downstreaming is the key to increasing the added value of Indonesia's natural resources while strengthening national economic independence," stated Bahlil. For 2026, the nickel export target is set at US$45 billion.
"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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