Nickel Commodity Price for 3-Month Forward Contracts Traded at US$16,475 /Ton in Morning Trade (Thursday, 24 September 2026)
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Westmetall recorded that the price of nickel commodity for 3-month forward contracts fell 0.75 percent today to the level of US$ 16,475 per ton. This price drop is relatively large compared to the average price movement over the past week.
This week, nickel commodity prices recorded the highest surge on Tuesday, 22 September 2026 at 1.69 percent. Meanwhile, trade recorded since the start of the year has continued to decline, with year to date growth down 2.6 percent.
(Read: Silver Price Traded at US$64.438 /Troy Ounce in Morning Trade (Friday, 25 September 2026))
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 rose 1.38 percent, with an average daily transaction price of US$16,380 per ton. Calculations from Katadata Insight Center (KIC) show that year-to-date (year-to-date/ytd), this nickel commodity price has fallen 2.6 percent. Even from its highest price this year at US$19,675 per ton, the 3-month forward nickel commodity contract price has dropped 16.26 percent.
On an annual basis, the average trading price for 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 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 and 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 decline (weakening).
The nickel industry is increasingly putting pressure on forests, seas and indigenous communities amid national conservation efforts. as reported by Katadata the "30x45 Vision" which is Indonesia's biodiversity protection target now faces dual challenges.
Stock market movements again recorded volatility in the mining commodity sector early last week. as reported by Katadata "crossing transactions occurred in nickel mining stocks" during trading on Monday 21 August.
"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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