Nickel Prices

15-04-2026 - Over the past month, the price of nickel has risen from $17,056.78 per ton to $17,980.94 per ton, indicating a strengthening market likely driven by increased demand or potential supply constraints. However, the forecast predicts a decrease to $17,477.50 per ton, a drop of $503.44 per ton or 2.8% from the current price, suggesting a general downtrend with potential for further price volatility.

The forecast highlights significant downward pressure on nickel prices, primarily influenced by technical data, which contributes a negative impact of $382.88 per ton. Although flows data suggests some upward pressure, the combined effects of demand, supply, and technical data point towards a declining trend.

Recent analyses reveal a surplus in the nickel market, with LME inventories exceeding 275,000 metric tons as of early January 2026. This oversupply, along with a slowdown in stainless steel production growth and the introduction of Europe's Carbon Border Adjustment Mechanism (CBAM), is expected to dampen demand expectations. As a result, consensus price forecasts have been adjusted downward by an average of 0.5% over the next five years. This information aligns with the forecasted downward trend in nickel prices.