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Nickel price today: live

Snapshot · Daily feed

Nickel trades on the LME. Indonesia dominates supply (55%+ of global output) through HPAL (high-pressure acid leach) and RKEF (rotary kiln electric furnace) processing. The Indonesian government's annual RKAB quota is the single most important pricing lever.

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Nickel trades on the LME. Indonesia dominates supply (55%+ of global output) through HPAL (high-pressure acid leach) and RKEF (rotary kiln electric furnace) processing. The Indonesian government's annual RKAB quota is the single most important pricing lever.

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Nickel mining stocks

Major producers

Source: Yahoo Finance + SEC EDGARFull screener →
#CompanyCommodity revenuePrice24h %YTD1YGeography
01
VALE
Vale S.A.
Sudbury and Voisey's Bay (Canada), Onca Puma (Brazil). Major PTVI JV (Indonesia). Nickel only ~6% of Vale revenue but one of the world's largest individual nickel producers.
~6%
————Canada · Brazil · Indonesia
02
BHP
BHP Group
Nickel West (Australia) suspended in 2024 amid Indonesian oversupply and cost pressure. Potential restart if prices recover above $20,000/t. Nickel now less than 1% of BHP revenue.
~1%
————Australia · Global
03
NICMF
Nickel Industries (NICMF ADR)
Indonesia-focused RKEF and HPAL operations. Major exposure to Chinese HPAL growth (Huayou, Tsingshan JVs). Pure-play nickel sulphate and matte for battery supply chain.
~98%
————Indonesia
04
GLNCY
Glencore (GLEN.L)
Koniambo (New Caledonia, care-and-maintenance 2024), Murrin Murrin (Australia), Raglan (Canada). Nickel ~3% of Glencore revenue. Marketing arm also trades Indonesian NPI.
~3%
————Canada · Australia · New Caledonia
05
SOUHY
South32 (SOUHY ADR)
Nova nickel-copper-cobalt (WA) plus 49% of Tianqi Lithium Energy Australia (TLEA, Greenbushes). Nickel ~15% of revenue; lithium growing.
~15%
————Western Australia
Reddit sentiment

Producer stock buzz

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BatteryCurated top 5

Nickel producer stocks

All commodity stocks
#CompanyTickerPrice24h %ExchangeNote
01
Nickel Industries Ltd
OTC: NICMF / ASX: NIC
NICMF----OTCHPAL + rotary kiln Indonesia — OTC

Ranked by commodity exposure (30%+ rule). Source: CommoditiesTracker hub database, June 2026. · Full producer database →

Nickel ETFs

Top funds by AUM

Source: Yahoo Finance + ETF issuer pagesAll nickel ETFs →
TickerFundStructureExpense ratioAUMYTD1Y
PICK
iShares MSCI Global Metals & Mining
BlackRock
Miners0.39%———
REMX
VanEck Rare Earth/Strategic Metals
VanEck
Miners0.53%———
LIT
Global X Lithium & Battery Tech ETF
Global X
Miners0.75%———

How nickel prices move

What’s moving this market

Structural fundamentals · Reviewed annually
Supply

Indonesia flooded the market with Class 2 nickel

Indonesia's share of global nickel supply grew from ~25% in 2017 to 55%+ by 2024 through a massive buildout of HPAL and RKEF facilities processing laterite ore. This oversupply crushed nickel prices from the March 2022 LME short-squeeze highs. The Indonesian government's RKAB quota (cut 30%+ in 2026 to 250-270 Mt vs 379 Mt in 2025) is the primary price-setting mechanism.

INSG · Indonesian government
Demand

Stainless steel dominates; batteries are the growth story

Stainless steel accounts for ~65-70% of nickel demand (China is the world's largest stainless producer). Battery demand for NCM/NCA cathodes is ~15-18% and growing, but the LFP chemistry shift (which uses no nickel) is undermining the battery growth narrative, especially in China. Western automakers (Tesla, Ford, GM) maintain NCM preference for higher-energy-density EVs.

INSG · Wood Mackenzie
Policy and macro

Indonesia RKAB quota and the Class 1 vs Class 2 split

LME-deliverable nickel (Class 1, 99.8%+ purity) is structurally tighter than Class 2 (NPI/ferronickel/HPAL MHP). The LME market prices Class 1; Indonesia's HPAL product is Class 2 and doesn't always deliver directly to the LME. BHP Nickel West suspension (2024) removed the last major Western Class 1 producer from active output. The Class 1 vs Class 2 spread is a key monitoring point.

LME · INSG

Key market data

Nickel fundamentals

Annual Mine Supply
3.6M t

Indonesia ~60%+ of global mine supply (massive HPAL + RKEF buildout since 2020). Philippines ~10%, Russia ~6%, Australia ~4%, New Caledonia ~4%. Indonesia government quota policy is now the single most important nickel pricing driver.

USGS · INSG
Annual Demand
3.5M t

Stainless steel ~65-70% (China the world's largest stainless producer), batteries ~15-18% (NCM/NCA cathodes; LFP doesn't use nickel), alloys + plating ~15%. EV LFP shift undermining long-term battery nickel demand outlook.

INSG · Wood Mackenzie
LME Inventory
Bottoming

LME warranted stocks grew significantly in 2025 (+90kt) amid Indonesian oversupply, before tightening in early 2026 on quota cuts. Class 1 (LME-deliverable, 99.8%+) historically tighter than Class 2 (NPI/ferronickel).

LME · Daily
Indonesia Share
55%

Up from 25% in 2017. The Indonesian government's annual RKAB quota system now sets global pricing. 2026 nickel ore quota cut to ~250-270 Mt vs 379 Mt in 2025, a 30%+ reduction that triggered the rally from $14k to $19k.

INSG · 2024
Battery Demand %
15%

Up from 7% in 2020. Long-term battery demand growth challenged by LFP chemistry gains (especially in China and emerging markets). Western automakers (Tesla, Ford, GM) maintain NCM/NCA preference for higher-energy-density EVs.

Benchmark Mineral Intelligence · Wood Mac
Price Volatility (90-day)
~34%

Elevated since the March 2022 LME nickel short squeeze (Tsingshan-driven; LME suspended trading and cancelled trades). Indonesian quota policy now drives the largest single-day moves.

Calculated · Daily
2026 price forecasts

Nickel price targets from 20 analysts

Aggregated 2026 price forecasts from major banks, research houses, and industry bodies. Range, median, and revision history — every forecast linked to its source.

Consensus range
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How to invest in nickel

Ways to gain nickel exposure

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ETFs

Nickel ETFs

The most accessible vehicle for retail investors. Trade like stocks, low expense ratios.

Equities

Nickel stocks

Mining and producer stocks offer 1.5-3x leverage to the underlying commodity but carry operational risk.

Futures

Nickel futures

COMEX / LME / NYMEX futures provide direct price exposure with leverage. Requires a futures-enabled brokerage account.

Deep Research

Nickel Metal Tracker

The dedicated tracker site for in-depth nickel research: screeners, insiders, ETF holdings.

Frequently asked questions

Common questions, answered

The current nickel price is shown at the top of this page, refreshed during LME trading hours. LME nickel (99.8%+ purity, Class 1) is the global benchmark. Indonesian Class 2 nickel (NPI, ferronickel, MHP) trades at a discount and does not deliver directly to the LME.