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Nickel Price in 2020

In 2020, the price of nickel averaged $13,787 per tonne, down 0.9% from the year before. This page covers the 2020 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

2020 Average

$13,787

LME annual average, USD/tonne

Change vs 2019

-0.9%

from $13,914 in 2019

What happened to the nickel price in 2020

Nickel averaged $13,787 per tonne in 2020, essentially unchanged from $13,914 in 2019. The notable development of 2020: USGS MCS 2025 confirms LME cash $13,772; World Bank $13,787..

A 2022 short squeeze briefly sent nickel above $100,000 intraday and forced the LME to halt and cancel trades; the annual average reached about $25,800 before Indonesian oversupply drove a multi-year decline.

Adjusted for inflation, nickel's 2020 average of $13,787 equals about $17,170 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 2020?
Nickel averaged $13,787 per tonne in 2020, based on World Bank and LME annual average data. That average was down 0.9% from $13,914 in 2019.
What is a 2020 nickel price worth in today's dollars?
Adjusted with the US Consumer Price Index, nickel's 2020 average of $13,787 works out to roughly $17,170 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 2020?
The defining story of 2020: USGS MCS 2025 confirms LME cash $13,772; World Bank $13,787.. Against that backdrop, the annual average fell 0.9%, from $13,914 in 2019 to $13,787.

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.