Nickel Price in London Falls 3.8% to USD 15,435/tonne
Nickel on the London market closed at USD 15,435/tonne on 2026-10-02, down 3.8% on the week and 6.6% on the month.
Nickel quoted in London stood at USD 15,435/tonne as of 2026-10-02, down 3.8% from USD 16,050/tonne on 2026-09-25. The month change is -6.6% from USD 16,530/tonne on 2026-09-02 and the quarter change is -4.2% from USD 16,115/tonne on 2026-07-03. Year on year the price is up 2.2% from USD 15,110/tonne on 2025-10-02. The 52-week high is USD 19,450/tonne on 2026-05-06 and the 52-week low is USD 14,125/tonne on 2025-12-16.
Supply-side developments in Indonesia have featured in the period. Bloomberg reported on 2026-09-15 that Nickel Industries halted the ramp-up of its Excelsior Nickel Cobalt facility in Sulawesi due to water shortages caused by an El Niño-linked drought. Shanghai Metals Market reported on 2026-09-24 that RKEF nickel pig iron plants at Indonesia's Morowali Industrial Park began cutting production by 30-40%, also due to water shortages.
Bloodstone Capital reported on 2026-09-18 that Indonesia reduced the corrective factor in its benchmark pricing formula for 1.2% nickel limonite ore from 26% to 14% to lower processor costs. East Asia Brief reported on 2026-09-29 that China continued an informal export ban on sulfuric acid, restricting feedstock for Indonesian hydrometallurgical nickel processing. Claight market monitoring shows that China and the United States held economic and trade consultations in New York on 2026-09-25 covering critical minerals and tariffs.