Nickel Price in 2004
In 2004, the price of nickel averaged $13,823 per tonne, up 43.6% from the year before. This page covers the 2004 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.
2004 Average
$13,823
LME annual average, USD/tonne
Change vs 2003
+43.6%
from $9,629 in 2003
What happened to the nickel price in 2004
Nickel averaged $13,823 per tonne in 2004, climbing 43.6% from the $9,629 average of 2003.
The China supercycle drove nickel to a record annual average above $37,000 in 2007, with an intraday spike near $54,000, before the 2008 crisis cut it in half.
Adjusted for inflation, nickel's 2004 average of $13,823 equals about $23,585 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 2004?
What is a 2004 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.