Nickel Price in 1998

In 1998, the price of nickel averaged $4,630 per tonne, down 33.2% from the year before. This page covers the 1998 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

1998 Average

$4,630

LME annual average, USD/tonne

Change vs 1997

-33.2%

from $6,927 in 1997

What happened to the nickel price in 1998

Nickel averaged $4,630 per tonne in 1998, collapsing 33.2% from the $6,927 average of 1997. The defining story of 1998: Asian financial crisis low..

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 1998 average of $4,630 equals about $9,155 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 1998?

Nickel averaged $4,630 per tonne in 1998, based on World Bank and LME annual average data. That average was down 33.2% from $6,927 in 1997.

What is a 1998 nickel price worth in today's dollars?

Adjusted with the US Consumer Price Index, nickel's 1998 average of $4,630 works out to roughly $9,155 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 1998?

The defining story of 1998: Asian financial crisis low.. Against that backdrop, the annual average fell 33.2%, from $6,927 in 1997 to $4,630.

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.