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Nickel prices

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Nickel Cathode

Price description
icon
Price Range
Avg.
Change
Date
SMM #1 Nickel (USD/mt)
14,029.01-14,881.53
14,455.27
+75.88
Dec 17, 2025
#1 JinChuan Nickel (USD/mt)
14,793.77-14,881.53
14,837.65
+107.39
Dec 17, 2025
#1 JinChuan Nickel premium/discount (USD/mt)
752.23-814.91
783.57
+81.83
Dec 17, 2025
#1 Import Nickel (USD/mt)
14,091.69-14,116.77
14,104.23
+25.59
Dec 17, 2025
#1 Import Nickel premium/discount (USD/mt)
50.15-50.15
50.15
+0.02
Dec 17, 2025
Electro-deposited Nickel (USD/mt)
14,029.01-14,116.77
14,072.89
+25.57
Dec 17, 2025
Electro-deposited Nickel Premium (USD/mt)
(-12.54)-50.15
18.81
+0.01
Dec 17, 2025
Nickel Briquettes (USD/mt)
14,342.43-14,380.05
14,361.24
+25.71
Dec 17, 2025
SMM Indonesia Refined Nickel, FOB Indonesia (USD/tonne)
14,600-14,690
14,645
-150
Dec 12, 2025

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Nickel Ore

Price description
icon
Price Range
Avg.
Change
Date
Indonesia Laterite Nickel Ore 1.2% (delivered to destination port) (USD/wmt)
22-23
22.5
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.3%（delivered to destination port） (USD/wmt)
24-25
24.5
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.4%（delivered to destination port） (USD/wmt)
40.3-41.4
40.85
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.5%（delivered to destination port） (USD/wmt)
46.3-47.4
46.85
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.6% (delivered to destination port) (USD/wmt)
50.9-52.9
51.9
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.2%（FOB） (USD/wmt)
15-17
16
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.3%（FOB） (USD/wmt)
17-19
18
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.4%（FOB） (USD/wmt)
32.3-34.3
33.3
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.5%（FOB） (USD/wmt)
37.3-39.4
38.35
0
Dec 12, 2025
Indonesia Laterite Nickel Ore 1.6%（FOB） (USD/wmt)
42.6-43.6
43.1
0
Dec 12, 2025
Ni0.9%,Fe49%,Al≥7%,CIF,Philippines (USD/wmt)
28-30
29
0
Dec 16, 2025
Ni0.9%,Fe49%,Al<7%,CIF,Philippines (USD/wmt)
35-37
36
0
Dec 16, 2025
Ni1.3%,Fe15-25%,CIF,Philippines (USD/wmt)
41-43
42
0
Dec 16, 2025
Ni1.4%,Fe15-25%,CIF,Philippines (USD/wmt)
49-51
50
0
Dec 16, 2025
Ni1.5%,Fe15-25%,CIF,Philippines (USD/wmt)
56-58
57
0
Dec 16, 2025
Ni1.8%,Fe15-20%,CIF,Others region (USD/wmt)
77-80
78.5
0
Dec 16, 2025
Ni0.9%,Fe49%,Al≥7% FOB,Philippines (USD/wmt)
13-16.5
14.75
0
Dec 16, 2025
Ni0.9%,Fe49%,Al<7%,FOB,Philippines (USD/wmt)
24-25
24.5
0
Dec 16, 2025
Ni1.3%,Fe15-25%,FOB,Philippines (USD/wmt)
31-33
32
0
Dec 16, 2025
Ni1.4%,Fe15-25%,FOB,Philippines (USD/wmt)
41-43
42
0
Dec 16, 2025
Ni1.8%,Fe15-20%,FOB (USD/wmt)
68-71
69.5
0
Dec 16, 2025
Ni1.5%,Fe15-25%,FOB,Philippines (USD/wmt)
48-50
49
0
Dec 16, 2025
SMM the Philippines 1.3% Laterite Nickel Ore, CIF Indonesia (USD/mt)
42-44
43
0
Dec 16, 2025
SMM the Philippines 1.4% Laterite Nickel Ore, CIF Indonesia (USD/mt)
49-51
50
0
Dec 16, 2025

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Ocean Freight Rate for Nickel Ore

Price description
Price Range
Avg.
Change
Date
Indonesia Nickel Ore Shipping Freight(Central Sulawesi to IMIP Port) (USD)
3.6-4.6
4.1
0
Dec 12, 2025
Indonesia Nickel Ore Shipping Freight (Southeast Sulawesi to IMIP Port) (USD)
5.6-6.6
6.1
0
Dec 12, 2025
Indonesia Nickel Ore Shipping Freight (Central Sulawesi to IWIP Port) (USD)
7.5-8.5
8
0
Dec 12, 2025
Indonesia Nickel Ore Shipping Freight(Southeast Sulawesi to IWIP Port) (USD)
9.8-11.2
10.5
0
Dec 12, 2025
Nickel Ore Freight Rates Philippines to Lianyungang Port (USD/mt)
10.5-11.5
11
0
Dec 16, 2025
Nickel Ore Freight Rates Philippines to Tianjin Port (USD/mt)
11.5-12.5
12
0
Dec 16, 2025

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FeNi

Price description
Price Range
Avg.
Change
Date
15-20% FeNi , DDP China (USD/nickel unit)
112.83-116.59
114.71
-0.57
Dec 17, 2025
20-25% FeNi , DDP China (USD/nickel unit)
124.12-127.88
126
-0.57
Dec 17, 2025
Ni≥30%FeNi , DDP China (USD/nickel unit)
131.64-139.16
135.4
-0.56
Dec 17, 2025

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NPI Price

Price description
icon
Price Range
Avg.
Change
Date
NPI (10-12%) (USD/mtu)
110.08-111.83
110.95
-0.13
Dec 17, 2025
NPI (10-12%) Indonesia (USD/mtu)
110.45-111.71
111.08
-0.13
Dec 17, 2025
High-grade NPI Index (USD/mtu)
111.29-111.29
111.29
-0.11
Dec 17, 2025
Low-Carbon High-Grade NPI Index (USD/ni)
112.05-112.05
112.05
-0.1
Dec 17, 2025
Indonesia NPI FOB Index (USD/mtu)
110.46-110.46
110.46
-0.18
Dec 17, 2025
NPI (8-12%) (USD/mtu)
110.08-112.21
111.14
-0.07
Dec 17, 2025
NPI(10-14%) Indonesia (USD/mtu)
110.45-113.08
111.77
-0.2
Dec 17, 2025
NPI (8-10%) (USD/mtu)
111.45-112.21
111.83
-0.13
Dec 17, 2025
NPI (12-14%) Indonesia (USD/mtu)
110.83-113.08
111.96
-0.13
Dec 17, 2025
NPI(Ni≥14%) Indonesia (USD/mtu)
111.33-114.97
113.15
-0.13
Dec 17, 2025
NPI (1.5-1.7%) (USD/mt)
401.19-413.72
407.46
+0.2
Dec 17, 2025

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Stainless Steel

Price description
icon
Price Range
Avg.
Change
Date
201/2B Coil (Wuxi) (USD/mt)
1,002.97-1,028.04
1,015.5
+0.49
Dec 17, 2025
304/2B Coil - Burr Edge (Wuxi) (USD/mt)
1,567.14-1,592.21
1,579.67
-5.51
Dec 17, 2025
201 J2/2B Coil (Wuxi) (USD/mt)
902.67-915.21
908.94
+0.44
Dec 17, 2025
304/2B Coil - Deburred Edge (Wuxi) (USD/mt)
1,654.9-1,667.43
1,661.16
+0.8
Dec 17, 2025
304/No.1 Coil (Wuxi) (USD/mt)
1,516.99-1,542.06
1,529.53
+0.74
Dec 17, 2025
316L/2B coil (Wuxi) (USD/mt)
2,939.95-3,021.44
2,980.69
+1.44
Dec 17, 2025
316L/No.1 coil (Wuxi) (USD/mt)
2,858.46-2,908.61
2,883.53
+1.39
Dec 17, 2025
430/2B Coil (Wuxi) (USD/mt)
946.55-959.09
952.82
+0.46
Dec 17, 2025
409L/2B Coil (Wuxi) (USD/mt)
952.82-965.36
959.09
+0.46
Dec 17, 2025
201/2B Coil (Foshan) (USD/mt)
996.7-1,009.24
1,002.97
+0.48
Dec 17, 2025
304/2B Coil-EM (Foshan) (USD/mt)
1,567.14-1,592.21
1,579.67
-5.51
Dec 17, 2025
201 J2/2B Coil (Foshan) (USD/mt)
902.67-915.21
908.94
+0.44
Dec 17, 2025
304/2B Coil-EC (Foshan) (USD/mt)
1,654.9-1,667.43
1,661.16
+0.8
Dec 17, 2025
304/No.1 Coil (Foshan) (USD/mt)
1,516.99-1,542.06
1,529.53
+0.74
Dec 17, 2025
304/2B Coil-EM, FOB Indonesia (USD/mt)
1,750-1,795
1,772.5
0
Dec 17, 2025
304/NO.1 Coil-EM, FOB Indonesia (USD/mt)
1,665-1,710
1,687.5
0
Dec 17, 2025
316L/2B coil (Foshan) (USD/mt)
2,939.95-3,021.44
2,980.69
+1.44
Dec 17, 2025
316L/No.1 coil (Foshan) (USD/mt)
2,858.46-2,908.61
2,883.53
+1.39
Dec 17, 2025
430/2B Coil (Foshan) (USD/mt)
946.55-959.09
952.82
+0.46
Dec 17, 2025
409L/2B Coil (Foshan) (USD/mt)
952.82-965.36
959.09
+0.46
Dec 17, 2025
201/2B Coil (National Average Price) (USD/mt)
1,018.01-1,018.01
1,018.01
+0.49
Dec 17, 2025
304/2B Coil (National Average Price) (USD/mt)
1,581.55-1,581.55
1,581.55
-5.5
Dec 17, 2025
304/NO.1 Coil (National Average Price) (USD/mt)
1,532.03-1,532.03
1,532.03
+0.74
Dec 17, 2025
316/2B Coil (National Average Price) (USD/mt)
2,982.57-2,982.57
2,982.57
+1.44
Dec 17, 2025
430/2B Coil (National Average Price) (USD/mt)
954.7-954.7
954.7
+0.46
Dec 17, 2025
201 recharge (Foshan) (USD/mt)
615.96-658.44
637.2
+0.79
Dec 16, 2025
304 Scrap Stainless Steel Cut-Off (USD/mt)
1,288.57-1,302.73
1,295.65
+1.61
Dec 16, 2025
304 Edge Material (Foshan) (USD/mt)
1,260.25-1,302.73
1,281.49
-5.48
Dec 16, 2025
316 recharge (Shanghai) (USD/mt)
2,414.3-2,442.62
2,428.46
+3.02
Dec 16, 2025
316 recharge (Foshan) (USD/mt)
2,414.3-2,428.46
2,421.38
+3.01
Dec 16, 2025
430 recharge (Foshan) (USD/mt)
509.76-523.92
516.84
+0.64
Dec 16, 2025
Malaysia 304 SS Scrap (USD/mt)
1,104-1,128
1,116
0
Dec 17, 2025

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Nickel Compound

Price description
icon
Price Range
Avg.
Change
Date
Battery-Grade Nickel Sulphate (USD/mt)
3,432.66-3,445.19
3,438.92
-4.61
Dec 17, 2025
SMM Battery-Grade Nickel Sulphate Index (USD/mt)
3,401.19-3,401.19
3,401.19
-4.88
Dec 17, 2025
Electroplating-Grade Nickel Sulphate (USD/mt)
3,698.44-4,137.24
3,917.84
+1.89
Dec 17, 2025
Nickel Chloride NiCl₂·6H₂O (USD/mt)
4,325.3-4,576.04
4,450.67
+2.14
Dec 17, 2025
Nickel(II)oxide (USD/mt)
13,289.32-14,041.54
13,665.43
+6.58
Dec 17, 2025

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Nickel Intermediates

Price description
Price Range
Avg.
Change
Date
SMM Indonesia Nickel in MHP, outright price, FOB Indonesia (USD/nickel ton)
12,861-12,861
12,861
-87
Dec 16, 2025
SMM Indonesia Cobalt in MHP, outright price, FOB Indonesia (USD/cobalt tonne)
47,826-47,826
47,826
+10
Dec 16, 2025
MHP Payable (Against SMM Battery-Grade Nickel Sulphate Index) (%)
85-85.5
85.25
-1.25
Dec 16, 2025
MHP Cobalt Element Pricing Coefficient (Against SMM Cobalt Sulphate Average Price) (%)
92-93
92.5
0
Dec 16, 2025
MHP Cobalt Payable to SMM Cobalt Metal (in-whs Rotterdam) (%)
95-95
95
-0.5
Dec 16, 2025
Indonesia High-grade Nickel Matte FOB (USD/nickel ton)
13,139-13,139
13,139
-88
Dec 16, 2025

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Auxiliary Material for Nickel

Price description
Price Range
Avg.
Change
Date
Sulfur (CIF Indonesia) (USD/mt)
530-545
537.5
+12.5
Dec 10, 2025
SMM Sulfur (Solid) (USD/mt)
482.45-494.98
488.71
-8.15
Dec 16, 2025
SMM Sodium hydroxide, CIF Indonesia (USD/mt)
425-450
437.5
+7.5
Dec 10, 2025

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Premium and Discount

Price description
Price Range
Avg.
Change
Date
JinChuan B&C (USD/mt)
752.23-814.91
783.57
+94.36
Dec 17, 2025
Russian Nickel Premium (USD/mt)
50.15-50.15
50.15
+12.56
Dec 17, 2025

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SHFE

Price description
Price
Open
High
Low
Vol.
Change
NI2601 (CNY/mt)
112,530
112,400
112,610
111,700
80,489
-100
NI2602 (CNY/mt)
112,760
112,510
112,830
111,890
40,384
-90
NI2603 (CNY/mt)
112,980
112,900
113,050
112,120
11,659
-20
NI2604 (CNY/mt)
113,280
113,130
113,320
112,410
1,319
-70
NI2605 (CNY/mt)
113,520
113,400
113,580
112,660
4,895
-70
NI2606 (CNY/mt)
113,780
113,510
113,780
112,930
214
-110
NI2607 (CNY/mt)
113,920
113,650
113,930
113,190
48
-130
NI2608 (CNY/mt)
113,980
113,550
113,980
113,440
11
-650
NI2609 (CNY/mt)
114,510
114,280
114,510
113,620
163
+40
NI2610 (CNY/mt)
114,720
114,620
114,770
114,050
11
-110
NI2611 (CNY/mt)
114,440
114,790
114,790
114,150
23
-430
NI2612 (CNY/mt)
114,450
114,590
115,970
114,030
47
-380

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LME

Price description
Price
Open
High
Low
Vol.
Change
LMEselect Nickel 3 Month (USD/mt)
14,345
14,255
14,345
14,255
519
+90

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SHFE/LME Ratio

Price description
Price
Open
High
Low
Change
SMM Spot/LME03
7.8885
7.8765
7.8954
7.8629
-0.0059
SHFE.NI2601/LME03
7.8445
7.8409
7.8522
7.8223
-0.0107
SHFE.NI2602/LME03
7.8606
7.8486
7.8675
7.8349
-0.0058
SHFE.NI2603/LME03
7.8759
7.8758
7.8828
7.8517
-0.0045
SHFE.NI2604/LME03
7.8968
7.8974
7.9024
7.872
-0.0067
SHFE.NI2605/LME03
7.9136
7.9162
7.9205
7.8895
-0.006
SHFE.NI2606/LME03
7.9317
7.9156
7.9448
7.903
-0.0088
SHFE.NI2607/LME03
7.9414
7.9254
7.9657
7.9189
-0.0124
SHFE.NI2608/LME03
7.9456
7.9433
7.9726
7.9267
-0.0236
SHFE.NI2609/LME03
7.9826
7.9693
7.9937
7.9518
+0.0008
SHFE.NI2610/LME03
7.9972
7.993
8.021
7.9755
-0.0091
SHFE.NI2611/LME03
7.9777
8.0049
8.0329
7.9777
-0.0377
SHFE.NI2612/LME03
7.9784
8.0049
8.1155
7.9784
-0.023

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Import Arbitrage

Price description
Price
Open
High
Low
Change
Nickel import arbitrage(Spot) (CNY/mt)
-1,057.8763
-1,141.9032
-876.3234
-1,320.7124
-112.5893
Nickel import arbitrage(NI2601) (CNY/mt)
-2,512.0645
-2,490.7952
-2,295.5119
-2,738.0496
-168.1795
Nickel import arbitrage(NI2602) (CNY/mt)
-2,522.0811
-2,618.413
-2,352.5874
-2,797.1146
-99.685
Nickel import arbitrage(NI2603) (CNY/mt)
-2,606.1519
-2,526.6002
-2,413.0492
-2,857.0501
-81.6454
Nickel import arbitrage(NI2604) (CNY/mt)
-2,601.4835
-2,560.761
-2,513.1839
-2,955.0559
-116.8569
Nickel import arbitrage(NI2605) (CNY/mt)
-2,912.1093
-2,662.5282
-2,662.5282
-3,326.0282
-298.5761
Nickel import arbitrage(NI2606) (CNY/mt)
-2,717.6488
-2,839.953
-2,445.3764
-2,995.5999
-175.4724
Nickel import arbitrage(NI2607) (CNY/mt)
-3,044.9232
-3,168.8858
-2,593.6734
-3,274.5866
-223.5716
Nickel import arbitrage(NI2608) (CNY/mt)
-3,507.8727
-3,427.0963
-2,967.3661
-3,638.6253
-383.6691

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