Nickel Price in 1988

In 1988, the price of nickel averaged $13,778 per tonne, up 182.8% from the year before. This page covers the 1988 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

1988 Average

$13,778

LME annual average, USD/tonne

Change vs 1987

+182.8%

from $4,872 in 1987

What happened to the nickel price in 1988

Nickel averaged $13,778 per tonne in 1988, surging 182.8% from the $4,872 average of 1987. Annual moves of that size are rare and put 1988 among the most explosive years in the metal's modern history. The defining story of 1988: Sharp spike (~$6.25/lb), stainless demand surge; ~185% jump vs 1987..

The early-1980s recession pressured nickel, but a stainless-steel demand surge and low inventories produced a dramatic spike to nearly $13,800 in 1988, up about 185% in a single year.

Adjusted for inflation, nickel's 1988 average of $13,778 equals about $37,537 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 1988?

Nickel averaged $13,778 per tonne in 1988, based on World Bank and LME annual average data. That average was up 182.8% from $4,872 in 1987.

What is a 1988 nickel price worth in today's dollars?

Adjusted with the US Consumer Price Index, nickel's 1988 average of $13,778 works out to roughly $37,537 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 1988?

The defining story of 1988: Sharp spike (~$6.25/lb), stainless demand surge; ~185% jump vs 1987.. Against that backdrop, the annual average climbed 182.8%, from $4,872 in 1987 to $13,778.

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.