Nickel Price in India Steady at USD 17,136/tonne
Nickel held week-on-week in India while quarterly losses widened, with Indonesian supply curbs shaping the backdrop.
Nickel in India was quoted at USD 17,136/tonne as of 2026-09-04, unchanged from USD 17,132/tonne on 2026-08-28. The price is down 1.4% over the month from USD 17,386/tonne on 2026-08-05 and down 10.1% over the quarter from USD 19,054/tonne on 2026-06-05. Year on year it is up 12.9% from USD 15,174/tonne on 2025-09-04. The 52-week high stands at USD 20,028/tonne on 2026-05-06 and the 52-week low at USD 14,518/tonne on 2025-12-16.
Supply developments in Indonesia have shaped the period. MYSTEEL reported on 2026-08-13 that Indonesia lowered its 2026 national nickel ore mining quota to 260-270 million tonnes, down from 379 million in 2025. SMM reported on 2026-08-02 that Indonesian authorities required new rare earth element inspections for mineral exports, causing temporary logistical delays, and SKILLINGS reported on 2026-08-19 that Indonesia's government clarified the mineral export regulations apply to primary products, enabling a resumption of shipments.
THE BUSINESS TIMES reported on 2026-08-28 that Chinese firms in Indonesia discussed potential 30 percent coordinated production cuts for HPAL plants due to low market prices. MYSTEEL reported on 2026-09-02 that Indonesia's Ministry of Energy and Mineral Resources announced monitoring of nickel smelter power supply due to El Nino-driven water shortages. Claight market monitoring shows operators at Indonesia Morowali Industrial Park warned of 30 to 40 percent potential output cuts if water scarcity persists.