Why are Nickel Prices so high?
23-10-2025 - Nickel prices dipped slightly over the past month, down 0.5% from $15035.55 to $14960.84 per tonne. The high was $15320.19 on October 9th, while the low was $14923.86 on October 17th.
Our one month forecast for Nickel is $15381.45 / t, a 2.8% increase from the latest price. Our analysis suggests a balanced market risk around this forecast for the raw material.
Our current forecast shows that Flows data has the most significant impact, increasing the price forecast by $245.79 per tonne. Among the Flows data, Exchange Rates and Seaborne Imports & Exports are the most influential families, contributing $128.30 and $117.49 per tonne, respectively. However, there is disagreement among the data types, with Flows, Supply, and Technical data indicating upward price pressure, while Demand data suggests a decrease in price, with a negative impact of $4.39 per tonne from the Global Economy family.
Our one month forecast for Nickel is $15381.45 / t, a 2.8% increase from the latest price. Our analysis suggests a balanced market risk around this forecast for the raw material.
Our current forecast shows that Flows data has the most significant impact, increasing the price forecast by $245.79 per tonne. Among the Flows data, Exchange Rates and Seaborne Imports & Exports are the most influential families, contributing $128.30 and $117.49 per tonne, respectively. However, there is disagreement among the data types, with Flows, Supply, and Technical data indicating upward price pressure, while Demand data suggests a decrease in price, with a negative impact of $4.39 per tonne from the Global Economy family.
What is the current / spot price of Nickel?
Nickel Price Today
October 23, 2025
Current Price
22080
$/t
What is the forecast for the price of Nickel?
Nickel Price Forecast
October 23, 2025
1 Month Forecast
15381.45
$/t
1 Year Forecast
18068.13
$/t
What are the short-term drivers of Nickel prices?
What are the long-term drivers of Nickel prices?
Over the 1 Month horizon the outlook is bullish due to drivers such as: - Nickel LME Closing Stock - EWMA-based technical analysis - Movements in the Chinese Yuan - Nickel Ore exports from Indonesia Br(None) The top contrary drivers for the 1 Month horizon are: - Nickel LME Delivered Out
Over the 1 Year horizon the outlook is bullish due to drivers such as: - The shape of the futures curve - Movements in the US Dollar Index - Nickel LME Closing Stock - Long term price trends Br(None) The top contrary drivers for the 1 Year horizon are: - The shape of the futures curve (adjusted for the risk free rate and price volatility)
Will the price of Nickel go up?
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1 Week
1 Month
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6 Month
1 Year
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