Nickel Price in 1978
In 1978, the price of nickel averaged $4,609 per tonne, down 9.9% from the year before. This page covers the 1978 average and what that nickel would be worth in today's dollars.
1978 Average
$4,609
LME annual average, USD/tonne
Change vs 1977
-9.9%
from $5,118 in 1977
Nickel Price Chart, 1970 to 1990
What happened to the nickel price in 1978
Nickel averaged $4,609 per tonne in 1978, down 9.9% from $5,118 the year before.
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 1978 average of $4,609 equals about $22,783 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 price from the last full year before the LME nickel contract launched in April 1979.
Frequently Asked Questions
What was the price of nickel in 1978?
What is a 1978 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.