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, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

1970 Average

$2,846

LME annual average, USD/tonne

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. The notable development of 1970: Pre-LME nickel contract (LME nickel launched April 1979); this is a producer/reference price, not true LME cash..

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.

Frequently Asked Questions

What was the price of nickel in 1970?

Nickel averaged $2,846 per tonne in 1970, based on World Bank and LME annual average data.

What is a 1970 nickel price worth in today's dollars?

Adjusted with the US Consumer Price Index, nickel's 1970 average of $2,846 works out to roughly $23,641 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the nickel price in 1970?

The defining story of 1970: Pre-LME nickel contract (LME nickel launched April 1979); this is a producer/reference price, not true LME cash.. 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.

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.