Nickel prices 1980-2019

This statistic shows the average commodity price for nickel in selected years between 1980 and 2019. In 2019, nickel had an average price of approximately 13,914 U.S. dollars per metric ton.

Global nickel market

Within the two last decades the average nickel price doubled, then decreased to similar levels again. In 2000, nickel was valued at about 8,638 U.S. dollars per metric ton. By 2011, nickel was valued at 22,910 U.S. dollars per metric ton. As of 2019, the price of nickel decreased to 13,914 U.S. dollars per metric ton.

In 2019, Indonesia produced some of the largest volumes of nickel from mines in the world, totaling 800,000 metric tons, while the Philippines produced 420,000 metric tons. Norilsk Nickel (also known as Nornickel) from Russia is one of the largest producers of nickel in the world. One of its largest mining operations is located in northern Russia within the Norilsk-Talnakh area. In 2019, the company produced 166,265 metric tons of refined nickel, which accounted for a large share of the country's nickel production.

Nickel is a lustrous metal and is used for various applications, such as in plating metals, due to its resistance to corrosion. Nickel is not mined directly but is extracted from ores such as iron ore limonite. The metal can be extracted through roasting and reduction processes. Most often, nickel is used as part of nickel steels, including stainless steel, in alloys, and in electroplating. The worldwide consumption of nickel reached 2.32 million metric tons in 2019. Historically, nickel has been used since 3500 BCE as a natural nickel-iron alloy.

Average nickel prices from 1980 to 2019

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Source

Release date

June 2020

Region

Worldwide

Survey time period

1980 to 2019

Supplementary notes

This statistic was assembled using several editions of the report.

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Statistics on "Nickel"

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