Nickel price and historical chart

The latest available nickel reference is $16,751.00 USD per metric tonne for August 2026. Latest monthly release. It is a monthly average from World Bank Pink Sheet.

Nickel specifications matter: exchange-grade refined nickel, ferronickel and battery intermediates are not interchangeable products.

Calculate value

Monthly average

$16,751.00

USD / tonne

August 2026 · World Bank Pink Sheet · Latest monthly release

CurrencyPrice per

World Bank Pink SheetDownload USD history ↓

Historical currency views use the latest reference FX, not date-matched historical exchange rates.

How did Indonesia become the centre of nickel mine supply?

Indonesia’s laterite operations placed it far ahead of every other mining country in 2025. The remaining producers include laterite and sulfide systems with different processing routes.

2025 estimate

Indonesia supplied roughly two-thirds of estimated nickel mine output in 2025. The Philippines was a distant second, followed by Russia, Canada, New Caledonia and China.

Loading the nickel production map…

The circles compare the published national estimates. Each point marks a representative producing area rather than every operation or legal boundary. The table provides the same facts without the interactive map. Map data © OpenStreetMap contributors.

1. Indonesia 2.6 million metric tonnes · 66.7% of rounded world output

2.6 million metric tonnes

2. Philippines 0.27 million metric tonnes · 6.9% of rounded world output

0.27 million metric tonnes

3. Russia 0.2 million metric tonnes · 5.1% of rounded world output

0.2 million metric tonnes

4. Canada 0.14 million metric tonnes · 3.6% of rounded world output

0.14 million metric tonnes

5. New Caledonia 0.14 million metric tonnes · 3.6% of rounded world output

0.14 million metric tonnes

6. China 0.12 million metric tonnes · 3.1% of rounded world output

0.12 million metric tonnes

Nickel ore can become ferronickel, nickel pig iron, matte, intermediates or refined Class I metal. These products are not interchangeable even when they contain the same element.

Leading nickel producers in the 2025 estimate
Rank	Country	Mine production	World share	Representative map area
1	Indonesia	2.6 million metric tonnes	66.7%	Sulawesi and Halmahera nickel regions
2	Philippines	0.27 million metric tonnes	6.9%	Philippine laterite-mining regions
3	Russia	0.2 million metric tonnes	5.1%	Norilsk and wider Russian production
4	Canada	0.14 million metric tonnes	3.6%	Sudbury and wider Canadian production
5	New Caledonia	0.14 million metric tonnes	3.6%	New Caledonian laterite regions
6	China	0.12 million metric tonnes	3.1%	Chinese nickel-mining regions

Nickel content does not identify the product. The mine table measures contained nickel. It does not say whether the output becomes nickel pig iron, ferronickel, matte, mixed hydroxide precipitate or refined Class I nickel.

nickel explained

One tonne of nickel content can arrive in very different forms.

The useful comparison begins with what the buyer can feed into a furnace, refinery or chemical plant.

Class I nickel

High-purity refined metal suitable for exchange delivery and specialised users.

Ferronickel and NPI

Iron-nickel products designed mainly for stainless-steel production.

Nickel matte

An intermediate that needs further refining before final use.

Battery intermediates

Hydroxide or other chemical feeds that require conversion to battery materials.

A Canadian sulfide-nickel route from Sudbury to finished products.

Vale’s Ontario chain offers a contrast to Indonesia’s laterite industry: Sudbury ores pass through an integrated mining and processing complex before finished nickel products are packaged for world markets.

Choose route

Origin Processing User market Feed material Finished product

Sudbury and Port Colborne

Loading the nickel supply-chain map…

The numbered route turns the cited operator description into a readable geography. Market points show broad destinations; they do not identify a buyer, live shipment or exclusive path. Map data © OpenStreetMap contributors.

1 Sudbury nickel ore → Ontario processing → world customers

1 · OriginSudbury nickel mines

2 · ProcessingPort Colborne nickel product facility Makes, packages and distributes finished nickel products

3 · Supplied or usedNorth American stainless and alloy marketEuropean manufacturing marketAsian manufacturing market

Source: Vale — Canadian base-metals production chain

This Canadian route is one nickel pathway. Laterite processing in Indonesia and New Caledonia uses different intermediates and plant designs. The map should not be used to infer that all nickel reaches the same purity or end market.

Which products consume primary nickel?

Stainless steel and other nickel-containing alloys typically account for more than 85% of US primary nickel consumption. Electroplating, catalysts and chemicals form the smaller remainder.

Applications are shown without made-up percentages. USGS says stainless steel and nickel-containing alloys typically exceed 85% of US primary consumption. Because “more than” is not an exact split, the two application cards are not drawn as a proportional chart.

Stainless steel and nickel alloys

More than 85%

Together these applications typically account for more than 85% of US primary nickel consumption.

Electroplating, catalysts and chemicals

Less than 15%

The remaining share includes plating and chemical uses; 15% is an upper-bound display.

Battery nickel and stainless-steel nickel are specification questions

Nickel can enter stainless steel through several feed forms. Battery chemicals require a different chain and a controlled chemical specification. A single element name does not make these materials interchangeable.

Refined Class I nickel is the product closest to the benchmark used on this page. Ferronickel, nickel pig iron and chemical intermediates need their own contained-metal and conversion terms.

Do not compare nickel by headline price alone

Name the product: refined nickel, ferronickel, matte or chemical intermediate.
Check nickel content and payable-metal terms.
Identify impurities and the processing step still required.
Match delivery location, contract timing and currency.

Calculate nickel value by weight

See how concentrated nickel mine supply is in the metal supply concentration table, or estimate the weight and cost of a nickel sheet, bar or tube with the material cost calculator.

Production and use source: U.S. Geological Survey, Mineral Commodity Summaries 2026 — Nickel. Route evidence: Vale — Canadian base-metals production chain.

Behind the chart.

Data methodology →

This chart separates the source observation, its period and its published unit from later currency or weight conversions.

What this price represents

Nickel specifications matter: exchange-grade refined nickel, ferronickel and battery intermediates are not interchangeable products.

Monthly observations are nominal USD averages from the World Bank Pink Sheet where available; palladium uses means of stored daily references. Yearly values are means of the available monthly averages, with incomplete periods labelled. Period averages describe the stated interval, not a current executable quote. Currency and weight conversions change the display, not the underlying specification.

What a physical transaction may cost

Grade, delivery location, fabrication, taxes and dealer spreads can change a real offer. Use a matching specification and period when comparing prices.

Recent observations

Recent Nickel price observations
Period	USD / tonne
Aug 2026	16,751.00
Jul 2026	16,651.00
Jun 2026	17,588.00
May 2026	18,806.00
Apr 2026	17,962.00
Mar 2026	17,076.00
Feb 2026	17,173.00
Jan 2026	17,769.00
Dec 2025	14,884.00
Nov 2025	14,671.00
Oct 2025	15,092.00
Sep 2025	15,106.00

The selected period in numbers.

monthly observations · 2021-08-01 to 2026-08-01 · USD / tonne · World Bank Pink Sheet

Lowest observation14,671

Highest observation33,924

Mean observation19,501.3

Stored observations61

First-to-last change-12.49%

High and low mean the highest and lowest stored observations, not intraday trading extremes. The mean is an unweighted average of those observations. Missing dates are not filled in.

Nickel by weight.

Custom weight & purity →

Common fine-metal weights

Uses the latest reference of the frequency selected above. Values exclude product premiums and fees.

Nickel values at common fine-metal weights
Fine weight	Reference value (USD)
1 gram	0.02
10 grams	0.17
1 troy ounce	0.52
100 grams	1.68
1 kilogram	16.75

Fine weight versus gross weight

The reference values assume the entire weight is the specified metal. For an alloy, multiply net metal weight by its fineness divided by 1,000 before applying a fine-metal price. Deduct stones or non-metal parts first. A plated item cannot be valued as though all its weight were the surface metal.

A troy ounce is 31.1034768 grams. An ordinary ounce is 28.349523125 grams. A metric tonne is 1,000 kilograms. Use the weight worksheet to compare units or an entire batch.

For a purchase, compare the invoice with the premium calculator. For recovered metal, review deductions in the scrap payout calculator.

One metal name can cover different products

Nickel comparisons require special attention to the product being priced. Refined nickel, ferronickel and battery intermediates have different compositions and processing requirements. A simple unit conversion cannot turn the refined reference shown here into a price for those other materials.

Stainless steel and alloys

Nickel is used in stainless steel and other alloys. The amount and form required depend on the manufacturing specification.

Battery materials

Some battery chemistries use nickel-containing materials. Refined-metal prices and intermediate-product prices should be labelled separately.

Processing route

Different ore and processing routes produce different materials. Composition, quality and conversion costs matter when comparing an offer with a refined benchmark.

Make comparisons meaningful

Compare nickel with copper or aluminium for broader industrial movements. The indexed comparison is useful because the nominal prices of different metals are not directly comparable measures of value.

In the comparison chart, each series starts at 100 on its first shared date. This compares percentage movements rather than equating the price of a tonne with the price of an ounce. For a physical transaction, also match quality, currency and delivery conditions.

Which product are you comparing?

Nickel product specifications to compare
Product	What to check
Refined nickel	Match the reference specification and unit.
Ferronickel	Value according to its composition and contract terms, not gross weight at the refined price.
Battery intermediates	Use the actual chemical specification and processing terms.

Recent yearly averages.

Download annual USD data ↓

Original USD per metric tonne. These figures average the available monthly observations. They are not year-end closes or the mean of all daily prices. This archive retains the original source unit regardless of chart display settings.

Nickel recent yearly averages
Year	Average (USD)	Monthly observations	Coverage
2026	17,472.00	8	Partial period
2025	15,162.17	12	12 complete monthly observations
2024	16,814.00	12	12 complete monthly observations
2023	21,521.17	12	12 complete monthly observations
2022	25,833.83	12	12 complete monthly observations
2021	18,465.00	12	12 complete monthly observations
2020	13,787.25	12	12 complete monthly observations
2019	13,913.83	12	12 complete monthly observations
2018	13,114.08	12	12 complete monthly observations
2017	10,409.58	12	12 complete monthly observations

Partial averages can change as observations are added. Do not compare an incomplete year with a full year as though the coverage were identical.

Questions about nickel prices

Is the Nickel price live or a reference?

This page uses World Bank monthly reference averages; a daily series is not available here. The displayed label, source and timestamp identify the observation. Polling a source does not make its underlying publication more frequent.

What can affect the Nickel price?

Stainless steel and alloys: Nickel is used in stainless steel and other alloys. The amount and form required depend on the manufacturing specification. Battery materials: Some battery chemistries use nickel-containing materials. Refined-metal prices and intermediate-product prices should be labelled separately.

Which Nickel products need separate specifications?

Refined nickel: Match the reference specification and unit. Ferronickel: Value according to its composition and contract terms, not gross weight at the refined price. These product differences mean one headline reference cannot price every physical transaction.

What do monthly and yearly Nickel prices mean?

Monthly values retain the World Bank source averages rather than being rebuilt from a different daily feed. Yearly values average those monthly observations. The table flags incomplete coverage. A period average is different from a closing price.

How do I value a custom amount of Nickel?

Use the nickel value calculator for weight, fineness and currency, then inspect its scenario chart and weight table. A contained-metal estimate excludes unentered premiums, fees and non-metal components.

Where does nickel come from?

Indonesia supplied roughly two-thirds of estimated nickel mine output in 2025. The Philippines was a distant second, followed by Russia, Canada, New Caledonia and China. See the nickel production map and table.

How does nickel move from mines to users?

Vale’s integrated Ontario operations mine and process nickel around Sudbury. Material moves through the Ontario production system to Port Colborne, where finished nickel products are packaged and shipped worldwide. Follow the documented nickel routes; they are explanatory relationships rather than live cargo tracking.

What is nickel used for?

Stainless steel and other nickel-containing alloys typically account for more than 85% of US primary nickel consumption. Electroplating, catalysts and chemicals form the smaller remainder. The end-use section separates the cited applications.

Sources and further reading

World Bank commodity data — monthly reference histories and source documentation.
USGS commodity statistics and information — material uses, supply and industry context.
price-chart.com methodology — validation, timestamps, period averages and conversions.

A little more perspective.

Industrial metals 5 MIN READ

The metals behind everyday life.

Reading copper, aluminium, nickel and base-metal prices