Why are Nickel Prices so high?
30-01-2026 - Over the past month, the price of nickel has risen from $16,675.53/t to $18,147.48/t, indicating a strengthening market likely driven by increased demand or supply constraints. However, the forecast predicts a decline to $17,740.66/t, a 2.2% decrease from the current price, suggesting a potential downward trend. This forecast highlights the risk of market volatility affecting raw material prices.
The current market outlook presents mixed signals. 'Flows' data, with a notable price impact of -$596.42/t, suggests downward pressure on prices due to factors like seaborne imports/exports and exchange rates. In contrast, data on 'Demand', 'Supply', and 'Technical' aspects indicate upward pressure on prices.
The forecast anticipates a decline in LME nickel prices to $17,740.66/t over the next month. This projection aligns with ING Research's analysis, which foresees a continued surplus in the nickel market through 2026. The surplus is primarily attributed to ongoing supply growth from Indonesia, which is expected to maintain downward pressure on nickel prices.
The current market outlook presents mixed signals. 'Flows' data, with a notable price impact of -$596.42/t, suggests downward pressure on prices due to factors like seaborne imports/exports and exchange rates. In contrast, data on 'Demand', 'Supply', and 'Technical' aspects indicate upward pressure on prices.
The forecast anticipates a decline in LME nickel prices to $17,740.66/t over the next month. This projection aligns with ING Research's analysis, which foresees a continued surplus in the nickel market through 2026. The surplus is primarily attributed to ongoing supply growth from Indonesia, which is expected to maintain downward pressure on nickel prices.
What is the current / spot price of Nickel?
Nickel Price Today
January 30, 2026
Current Price
18147.48
$/t
What is the forecast for the price of Nickel?
Nickel Price Forecast
January 30, 2026
1 Month Forecast
17740.66
$/t
1 Year Forecast
23628.09
$/t
What are the short-term drivers of Nickel prices?
Over the 1 Month horizon the outlook is bearish due to drivers such as: - Nickel Ore exports from Indonesia - Minerals exports from Australia - Movements in the Australian Dollar - Long term price trends Br(None) The top contrary drivers for the 1 Month horizon are: - Seasonality trends for the prediction week of year
What are the long-term drivers of Nickel prices?
Over the 1 Year horizon the outlook is bullish due to drivers such as: - The net positions of speculators on the LME - Minerals exports from Australia - Movements in the US Dollar Index - The shape of the futures curve Br(None) The top contrary drivers for the 1 Year horizon are: - EWMA-based technical analysis
Will the price of Nickel go up?
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