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Nickel Price in 2021

In 2021, the price of nickel averaged $18,465 per tonne, up 33.9% from the year before. This page covers the 2021 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

2021 Average

$18,465

LME annual average, USD/tonne

Change vs 2020

+33.9%

from $13,787 in 2020

What happened to the nickel price in 2021

Nickel averaged $18,465 per tonne in 2021, climbing 33.9% from the $13,787 average of 2020. The defining story of 2021: USGS confirms LME cash $18,476..

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 2021 average of $18,465 equals about $21,960 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 2021?
Nickel averaged $18,465 per tonne in 2021, based on World Bank and LME annual average data. That average was up 33.9% from $13,787 in 2020.
What is a 2021 nickel price worth in today's dollars?
Adjusted with the US Consumer Price Index, nickel's 2021 average of $18,465 works out to roughly $21,960 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 2021?
The defining story of 2021: USGS confirms LME cash $18,476.. Against that backdrop, the annual average climbed 33.9%, from $13,787 in 2020 to $18,465.

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.