Nickel Price OutlookNickel prices gained some ground in recent weeks following a sharp fall between the end of August and early September. Mounting concerns over the emerging-market selloff and the trade war between the U.S. and China were more than offset by upward pressures on prices stemming from declining inventories. On 5 October, nickel traded at USD 12,539 per metric ton, which was up 1.5% from the same day a month earlier. Meanwhile, Nickel was 1.3% lower on a year-to-date basis but was up 20.0% from the same day last year. Recent data showing decreasing stocks of nickel at the London Metal Exchange supported prices, as did recent announcements by the Philippine government that it will impose additional limits on mining for environmental reasons. That said, inventories of the metal are still abundant, which limits the extent of price gains stemming from falling inventories. Moreover, concerns of a trade war following the imposition of a new round of U.S. tariffs on Chinese products and the counterreaction by China’s authorities partly offset upward price pressures. Additionally, signs that tariffs are negatively affecting the manufacturing sector in China and a week-long holiday in the Asian country further limited price gains.
Nickel Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Nickel Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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