Nickel Commodity Price for the 3-Month Forward Contract This Morning Traded at US$15,830 per Ton (Tuesday, September 10, 2024)
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Nickel commodity prices for the 3-month forward contract on Tuesday, September 10, 2024, decreased. Trading of nickel commodity prices for the 3-month forward contract today was recorded at US$15,830 per ton. This figure is lower than the previous day's trading, which was at US$15,895 per ton. This current condition completes the nickel commodity price movement for the 3-month forward contract over the past two days, which has been in a downward trend.
Over the past week, the price movement of nickel commodities for the 3-month forward contract grew by -7.05 percent, with an average daily transaction price of US$16,160 per ton. Compared to the position 30 days ago, the price movement of nickel commodities has grown by -0.41 percent. The highest trading value for nickel commodities this year was transacted at US$21,650 per ton, which occurred on Monday, May 20, 2024.
Annually, the average trading price of nickel commodities for the 3-month forward contract over the past five years has been in an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price of nickel commodities was recorded in May 2024 at US$19,770 per ton.
Citing previous Katadata news, the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, projects that the export value of nickel derivatives could reach US$60 billion or approximately Rp927.84 trillion in 2025. This is due to the downstreaming of nickel into electric vehicles (EVs). In 2022, the export value of nickel and its derivatives reached US$34.28 billion or Rp530.1 trillion.
"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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