What is the expected price of nickel in 2026?

Written by Editorial Team | Last Updated: August 2026

Financial institutions and commodities analysts, such as Goldman Sachs, project that the average price for nickel will hover around $18,500 per metric ton. This upward revision reflects expectations of tighter supply dynamics originating from Indonesia, the world's leading producer, driven by reduced mining quota allocations and ongoing sulfur shortages affecting refined output. Market surpluses and inventories on the London Metal Exchange also introduce short-term volatility, keeping analysts closely monitoring global stainless steel demand and battery sector consumption trends.

Related FAQs

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Investing in nickel during 2026 requires navigating a complex market environment defined by narrowing global surpluses, strict mining quota policies in Indonesia, and shifting cost bases driven by rising sulfuric acid input prices.