Monthly price of nickel at LME 2019-2020

In May 2020, the price of one metric ton of nickel stood at some 12,179.61 U.S. dollars. In comparison, in February 2016, the price of nickel was just 8,299 U.S. dollars per metric ton. Thus, the nickel price has increased considerably in the past few years, though it continuously fluctuates.

Overview of nickel

Discovered in 1751, nickel is a base metal with a silvery-white lustrous appearance that has a slightly golden tinge. The metal is crucial for many global industries, especially, for example, for the stainless-steel industry. Nickel is highly corrosion-resistant and is used to plate other metals in order to protect them. Because of these useful traits, nickel is used in more than 300,000 products worldwide, spanning from architectural, industrial, military, transportation and aerospace, marine, currency, and consumer applications.

Nickel price dynamics

Though nickel is the fifth most abundant element found on Earth, as with any commodity, the price of nickel can vary widely depending on global market conditions. Following the collapse of the Soviet Union, exports of nickel increased dramatically, dropping the price of nickel in the mid-1990s to below production costs. Nickel production in the Western Hemisphere was reduced during that period. Prices then increased again, up to a high of 52,179 U.S. dollars per metric ton in May 2007. Since then, nickel prices have decreased, and have remained between a low of 8,299 U.S. dollars per metric ton and a high of 17,657 U.S. dollars per metric ton between 2016 and 2019. It is forecast that the price of nickel will amount to nearly 16,000 U.S. dollars per metric ton in 2025.

Price of nickel at the London Metal Exchange from May 2019 to May 2020 (in U.S. dollars per metric ton)*

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Release date

June 2020


United States

Survey time period

May 2019 to May 2020

Supplementary notes

* Nickel, melting grade, LME spot price, CIF European ports.
Prices are rounded to the nearest U.S. dollar.

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Statistics on "Nickel"

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