| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Nickel | China | FOB | USD 21,451.55/MT | May 2026 |
| Nickel | India | CIF | USD 21,518.89/MT | May 2026 |
| Nickel | USA | CIF | USD 21,570.74/MT | May 2026 |
| Nickel | Germany | CIF | USD 21,545.00/MT | May 2026 |
| Nickel | Australia | CIF | USD 21,502.38/MT | May 2026 |
| Nickel | China | FOB | USD 20,488.69/MT | April 2026 |
| Nickel | India | CIF | USD 20,538.69/MT | April 2026 |
| Nickel | USA | CIF | USD 20,575.69/MT | April 2026 |
| Nickel | Germany | CIF | USD 20,614.69/MT | April 2026 |
| Nickel | Australia | CIF | USD 20,526.69/MT | April 2026 |
Stay updated with the latest Nickel prices, historical data, and tailored regional analysis
Asia
In China, the prices of Nickel were ~RMB 139.89/kg and ~RMB 145.15/kg, respectively, in the first two months of the second quarter of 2026. The rise was driven by Indonesian ore restrictions, stronger nickel pig iron costs, and sulphur-linked pressure on high-pressure acid leach operations. Indonesia’s nickel ore quota was reduced to nearly 260-270 million wet tons, below smelter requirements, while sulphur disruption forced some mixed hydroxide precipitate plants to cut output. However, the rally weakened in late Q2 as quota-expansion rumours and high refined nickel inventories reduced shortage fears. Stainless mills kept purchases need-based, and lithium iron phosphate’s dominance in battery chemistry limited nickel demand growth.
Europe
In Germany, the prices of Nickel were ~EUR 17.58/kg in April and ~EUR 18.48/kg in May, showing a ~5.1% increase. European nickel costs followed the global rally, but weak stainless steel consumption limited full pass-through. Automotive and manufacturing demand stayed subdued, and steel-using sector output was expected to grow only modestly in 2026. The key policy support came from the European Commission’s steel decision, approving an annual tariff-free steel import quota of 18.3 million tons and a 50% duty on volumes above the quota from July 1, 2026. This helped European stainless mills, but demand remained cautious.
North America
In the United States, the prices of Nickel were ~USD 20,575.69/MT in April and ~USD 21,570.74/MT in the following month, showing a ~4.8% increase. U.S. prices were supported by the early LME-linked rally and trade-policy protection for domestic steel. The 50% tariff on imported steel helped local producers defend pricing, but stainless steel demand was still soft. Battery demand also gave limited support, as U.S. EV battery deployment remained much smaller than China’s.
Analyst Insight
According to Procurement Resource, in the near term, nickel prices may stay range-bound. Indonesian ore policy, sulphur supply, and stainless-steel buying will drive direction, while high inventories may cap sharp gains.
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Asia
In Asia, nickel prices rose in January on strong market sentiment and concerns over tighter Indonesian ore availability, then weakened by March as the market shifted back to actual demand conditions. In China, prices were about RMB 146.01/kg in January and around RMB 139.01/kg in March, down 3.67% over the period. Demand for stainless steel remained weak during the traditional off-season, though steel mill activity improved in March. Battery-related demand was present but not strong enough to offset softer stainless steel consumption. In India, prices also eased from INR 1,645.78/kg in January to INR 1,622.25/kg in March, a decline of 3.73%, following the same pattern of early supply-driven support and later demand-led correction.
Europe
In Europe, nickel prices also softened during Q1 2026. Prices moved from EUR 15.29/kg in January to EUR 14.93/kg in March, down 3.68%. The decline was mainly linked to weak downstream consumption and cautious buying, despite continued supply-side concern tied to Indonesia’s production controls and reduced intermediate output expectations. Market support from stainless steel and battery sectors remained limited, keeping buyers focused on essential purchases.
North America
In North America, nickel prices followed the broader global trend, with early support from supply concerns and macro sentiment, followed by softer movement as demand failed to strengthen materially. Stainless steel demand remained the main driver, but weak broader industrial buying limited upside.
Nickel is known to be an abundant element found in nature. In appearance, pure Nickel is a silvery-white metal. It is sometimes combined with other metals also, like iron, copper, chromium, or zinc, to form alloys. It is one of the members of transition metals and is hard and ductile. Nickel alloys are further utilised to make coins, jewellery, or items like the valves and heat exchangers.
Ni
Stainless Steel, Alloys, Coatings, Batteries, Electroplating, Kitchen wares, Batteries, Medical equipment, Automotive, Construction, Power generation
7440-02-0, Raney alloy
Umicore N.V, American Elements, Vale S.A., MMC Norilsk Nickel PJSC, Jinchuan Group International Resources Co. Ltd, Glencore plc, PT Timah (Persero) Tbk
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Nickel is extracted from the ores of Nickel Sulphides. This extraction process is carried out using traditional roasting. The process includes steps like crushing and grinding of the sulphide ore, which is followed by roasting and smelting. The concentrate is further smelted in the Bessemer converter to obtain a mixture called matte. Then, the resulting mixture is electrolytically or chemically refined to separate impurities (other metals) and finally obtain Nickel.
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