Nickel — Class 1

Germany·Europe·EXW·USD/MT·Monthly·Cathode

Latest price

$16,559/MT

Last updated: September 2026

-3.3%MoM-6.8%QoQ-5.3%YoY

ActualChinaJapanUnited States

Current

$16,559/MT

MoM

-3.3%

QoQ

-6.8%

YoY

-5.3%

Forecast

—

n/a

12M High / Low

$19,289

Low $16,559

Supply

Smelter maintenance and energy costs constrained refined output.

Bullish

Medium · Sep 2026

Demand

Manufacturing PMI softened, tempering offtake expectations.

Bearish

Medium · Sep 2026

Macroeconomics

A weaker dollar supported dollar-denominated metal prices.

Bullish

High · Sep 2026

Trade

LME warehouse stocks drew, signalling tighter nearby availability.

Bullish

Medium · Sep 2026