Why are Nickel Prices so high?
30-09-2026 - Over the past month, the price of nickel has decreased from $16,700.65/t to $15,768.49/t, indicating a downward trend in the raw material market. This decline suggests potential shifts in supply-demand dynamics or broader economic factors influencing nickel pricing. Despite this recent decrease, the forecast predicts a rise to $16,169.57/t, a 2.5% increase from the current price of $15,768.49/t, suggesting a generally upward trend. However, this forecast comes with the risk of potential market volatility affecting raw material prices.
The forecast indicates upward price pressure on raw materials, primarily driven by technical data with a price impact of $258.9/t. Key contributors to this pressure include the Futures Curve at $150.35/t and Trend Following at $100.21/t. All data types, including Demand, Flows, and Supply, support this trend.
Contrarily, external sources like Argus Media report a downward trend in LME nickel prices in October 2023, with an average price decrease of 6.8% from September to $18.50/kg. They forecast an average LME 3-month price of $18.00/kg in November, suggesting expectations of continued price stabilization at lower levels. This divergence in forecasts highlights the complexity and uncertainty in the nickel market.
The forecast indicates upward price pressure on raw materials, primarily driven by technical data with a price impact of $258.9/t. Key contributors to this pressure include the Futures Curve at $150.35/t and Trend Following at $100.21/t. All data types, including Demand, Flows, and Supply, support this trend.
Contrarily, external sources like Argus Media report a downward trend in LME nickel prices in October 2023, with an average price decrease of 6.8% from September to $18.50/kg. They forecast an average LME 3-month price of $18.00/kg in November, suggesting expectations of continued price stabilization at lower levels. This divergence in forecasts highlights the complexity and uncertainty in the nickel market.
What is the current / spot price of Nickel?
Nickel Price Today
September 30, 2026
Current Price
15768.49
$/t
What is the forecast for the price of Nickel?
Nickel Price Forecast
September 30, 2026
1 Month Forecast
16169.57
$/t
1 Year Forecast
19277.44
$/t
What are the short-term drivers of Nickel prices?
Over the 1 Month horizon the outlook is bullish due to drivers such as: - Nickel LME Closing Stock - The shape of the futures curve - Short term price trends Br(None) The top contrary drivers for the 1 Month horizon are: - Nickel LME Delivered Out - Nickel LME Delivered In
What are the long-term drivers of Nickel prices?
Over the 1 Year horizon the outlook is bullish due to drivers such as: - Nickel (SHFE) Stocks - The shape of the futures curve - Movements in the US Dollar Index Br(None) The top contrary drivers for the 1 Year horizon are: - EWMA-based technical analysis - Short term price trends
Will the price of Nickel go up?
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1 Week
1 Month
3 Month
6 Month
1 Year
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The Latest Nickel News
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