Nickel Price in 1970
In 1970, the price of nickel averaged $2,846 per tonne when nickel was still a producer-priced metal. This page covers the 1970 average and what that nickel would be worth in today's dollars.
1970 Average
$2,846
LME annual average, USD/tonne
Nickel Price Chart, 1970 to 1990
What happened to the nickel price in 1970
Nickel averaged $2,846 per tonne in 1970, according to World Bank and LME annual average data. Nickel averaged around $2,846 per tonne in 1970, a producer-set price from well before the LME launched its nickel contract in April 1979.
Nickel traded as a producer-set metal through the 1970s, well before the LME launched its nickel contract in April 1979; prices rose with inflation from around $2,850 to roughly $5,100 per tonne.
Adjusted for inflation, nickel's 1970 average of $2,846 equals about $23,641 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.
Data note: Producer reference price: the LME nickel contract didn't launch until April 1979.
Frequently Asked Questions
What was the price of nickel in 1970?
What is a 1970 nickel price worth in today's dollars?
Annual averages are World Bank and LME nickel prices per tonne in US dollars (LME cash and settlement basis). Values before the LME nickel contract launched in April 1979 are producer and reference prices, and the 2025 figure is preliminary. Where daily data exists, the per-year high, low, and close come from MetalCharts historical data. Inflation adjustments use BLS CPI-U annual averages.