Live Nickel Prices Today

Nickel is a vital energy metal, primarily used in lithium-ion batteries for electric vehicles and renewable energy infrastructure. Its alloys exhibit excellent corrosion resistance, making them ideal for constructing wind turbines and solar panel frames. Additionally, nickel’s high recyclability ensures it remains an economically viable material for sustainable energy solutions.

Global Inventory Nickel & Prices

Nickel futures are primarily traded on the London Metal Exchange (LME), the world’s largest and most powerful market for electric metals like copper and cobalt. It sets the benchmark prices for nickel through its futures and options contracts. In fact, the LME nickel contract is highly liquid and widely referenced in the industry. 

Nickel Futures Price Chart ($/tonne)

Nickel is traded on several commodity exchanges around the world, including the London Metal Exchange (LME), the Shanghai Futures Exchange (SHFE), and CME (Chicago Mercantile Exchange). The price of nickel is affected by various factors:

• Stainless Steel Production: The stainless steel industry accounts for approximately 64% of the global consumption of nickel*, far surpassing that of batteries and alloys. Nickel provides powerful corrosion resistance, strength and durability, making it essential in stainless steel. Economic expansion boosts industrial activity, construction and consumer spending, all of which drive demand for stainless steel and nickel.
• Electric Vehicles Demand: Nickel is a key component in the cathodes of lithium-ion batteries that companies like Tesla require in their car batteries. Altogether these batteries account for 15% of the global consumption of nickel*.
• Production and Extraction: Nickel extraction involves mining, crushing, smelting, and refining processes, which are continually improved by technological advancements. Indonesia is by far the world’s largest producer of nickel, followed distantly by the Philippines and Russia.
• Environmental and Regulatory Policies: Governmental regulations that affect mining and safeguard the environment can greatly influence nickel production costs and supply.
• *Nickel Consumption Data from Government of Canada