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Nickel prices 1980-2018

Average nickel prices from 1980 to 2018 (in U.S. dollars per metric ton)

by M. Garside, last edited Jun 4, 2019
Nickel prices 1980-2018 This statistic shows the average commodity price for nickel in selected years between 1980 and 2018. In 2018, nickel had an average price of approximately 13,144 U.S. dollars per metric ton.
Global nickel market

Within the two last decades the average nickel price nearly 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 2018, the price of nickel decreased to 13,144 U.S. dollars per metric ton.

In 2017, Indonesia produced some of the largest volumes of nickel from mines in the world, totaling 560 thousand metric tons, while the Philippines produced 340 thousand metric tons. Norilsk Nickel 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 2017, the company produced 157 thousand 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 2.14 million metric tons in 2017. Historically, nickel has been used since 3500 BCE as a natural nickel-iron alloy.
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Average nickel prices from 1980 to 2018 (in U.S. dollars per metric ton)

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