Nickel Price in 1994
In 1994, the price of nickel averaged $6,340 per tonne, up 19.8% from the year before. This page covers the 1994 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.
1994 Average
$6,340
LME annual average, USD/tonne
Change vs 1993
+19.8%
from $5,293 in 1993
What happened to the nickel price in 1994
Nickel averaged $6,340 per tonne in 1994, climbing 19.8% from the $5,293 average of 1993.
Nickel whipsawed through the 1990s on erratic Russian supply and the 1998 Asian financial crisis low near $4,600, ending the decade around $6,000.
Adjusted for inflation, nickel's 1994 average of $6,340 equals about $13,788 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 1994?
What is a 1994 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.