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Nickel Price in 2025

In 2025, the price of nickel averaged $15,162 per tonne, down 9.8% from the year before. This page covers the 2025 average, high, low, and year-end close, the events that moved the market, and what that nickel would be worth in today's dollars.

2025 Average

$15,162

LME annual average, USD/tonne

Change vs 2024

-9.8%

from $16,814 in 2024

What happened to the nickel price in 2025

Nickel averaged $15,162 per tonne in 2025, down 9.8% from $16,814 the year before. The notable development of 2025: Full-year figure from World Bank Jan 2026 update; may be revised. Broadly consistent with ~$15,400 market forecasts..

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 2025 average of $15,162 equals about $15,162 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 2025?
Nickel averaged $15,162 per tonne in 2025, based on World Bank and LME annual average data. That average was down 9.8% from $16,814 in 2024.
What is a 2025 nickel price worth in today's dollars?
Adjusted with the US Consumer Price Index, nickel's 2025 average of $15,162 works out to roughly $15,162 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 2025?
The defining story of 2025: Full-year figure from World Bank Jan 2026 update; may be revised. Broadly consistent with ~$15,400 market forecasts.. Against that backdrop, the annual average fell 9.8%, from $16,814 in 2024 to $15,162.

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.