Nickel Price in 2008

In 2008, the price of nickel averaged $21,111 per tonne, down 43.3% from the year before. This page covers the 2008 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

2008 Average

$21,111

LME annual average, USD/tonne

Change vs 2007

-43.3%

from $37,230 in 2007

What happened to the nickel price in 2008

Nickel averaged $21,111 per tonne in 2008, collapsing 43.3% from the $37,230 average of 2007. The defining story of 2008: Global financial crisis; sharp decline from 2007 peak..

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 2008 average of $21,111 equals about $31,603 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 2008?

Nickel averaged $21,111 per tonne in 2008, based on World Bank and LME annual average data. That average was down 43.3% from $37,230 in 2007.

What is a 2008 nickel price worth in today's dollars?

Adjusted with the US Consumer Price Index, nickel's 2008 average of $21,111 works out to roughly $31,603 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 2008?

The defining story of 2008: Global financial crisis; sharp decline from 2007 peak.. Against that backdrop, the annual average fell 43.3%, from $37,230 in 2007 to $21,111.

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.