Why are Nickel Prices so high?
09-12-2025 - Over the past month, the price of nickel has seen a slight decrease, moving from $14,838.81/t to $14,647.64/t. This modest decline suggests a potential shift in supply-demand dynamics or broader economic influences, indicating a downward trend in the market. The forecast for nickel prices is $14,640.2/t, a marginal decrease of 0.1% from the current price of $14,647.64/t. This suggests a generally stable trend with minimal risk, as the price change is negligible.
The forecast also highlights upward price pressure on raw materials, driven by technical data with a notable impact of $327.82/t, influenced by traders' positions and futures curves. However, flow data indicates downward pressure, resulting in a mixed market outlook.
Recent analyses suggest that the nickel market is expected to remain in surplus through 2026, primarily due to ongoing supply growth from Indonesia. This persistent oversupply is likely to exert downward pressure on prices, supporting the forecasted trend of declining nickel prices.
The forecast also highlights upward price pressure on raw materials, driven by technical data with a notable impact of $327.82/t, influenced by traders' positions and futures curves. However, flow data indicates downward pressure, resulting in a mixed market outlook.
Recent analyses suggest that the nickel market is expected to remain in surplus through 2026, primarily due to ongoing supply growth from Indonesia. This persistent oversupply is likely to exert downward pressure on prices, supporting the forecasted trend of declining nickel prices.
What is the current / spot price of Nickel?
Nickel Price Today
December 9, 2025
Current Price
14647.64
$/t
What is the forecast for the price of Nickel?
Nickel Price Forecast
December 9, 2025
1 Month Forecast
14640.2
$/t
1 Year Forecast
17243.43
$/t
What are the short-term drivers of Nickel prices?
Over the 1 Month horizon the outlook is moderately bearish due to drivers such as: - Nickel LME Delivered Out - Movements in the Australian Dollar Br(None) The top contrary drivers for the 1 Month horizon are: - The net positions of speculators on the LME - Nickel LME Closing Stock - The shape of the futures curve
What are the long-term drivers of Nickel prices?
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 - Long term price trends - FTSE BRIC 50 Index Br(None) The top contrary drivers for the 1 Year horizon are: - Nickel Ore exports from Australia
Will the price of Nickel go up?
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