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Nickel Price Today
Last updated: April 30, 2026 at 10:00 AM EDT ET · Source: COMEX / LBMA
Calculate Nickel Value
1 Grams (g) of Nickel
$488.69
Spot price: $15,200.00/oz
Rate: 1 USD = 1 USD
Approximate value - excludes taxes, premiums
Exchange rates are indicative. Actual buy/sell prices include dealer premiums. Not financial advice.
Price by Weight
| Unit | USD Price |
|---|---|
| Troy Ounce (oz t) | $15,200.00 |
| Gram (g) | $488.69 |
| Kilogram (kg) | $488,690.98 |
| Tola (10g) | $4,886.91 |
| Pennyweight (dwt) | $760.00 |
Price by Currency (per troy oz)
| Currency | Price |
|---|---|
| 🇺🇸USD | $15,200.00 |
| 🇨🇦CAD | CA$20,672.00 |
| 🇪🇺EUR | €13,984.00 |
| 🇬🇧GBP | £12,008.00 |
| 🇦🇺AUD | A$23,408.00 |
| 🇨🇭CHF | Fr13,680.00 |
| 🇯🇵JPY | ¥2,333,200 |
| 🇮🇳INR | ₹1,267,680 |
Exchange rates are approximate. Source: COMEX / LBMA
About Nickel
Nickel is the essential metal powering the electric vehicle revolution. While it has long been prized for its role in stainless steel production — which accounts for about 70% of global nickel demand — the rapid growth of EV batteries has transformed nickel into one of the most strategically important metals of the 21st century. High-nickel cathode chemistries like NMC (nickel manganese cobalt) and NCA (nickel cobalt aluminum) dominate the EV battery market, offering superior energy density compared to alternatives.
Indonesia has emerged as the dominant force in global nickel supply, now accounting for over 50% of world production. However, there is an important distinction: Indonesia primarily produces Class 2 nickel (nickel pig iron and ferronickel) used in stainless steel, while EV battery manufacturers require Class 1 nickel (high-purity refined nickel). This supply mismatch has been a persistent structural tension in the market.
The nickel market was thrust into the spotlight in March 2022 when a short squeeze engineered by Chinese nickel producer Tsingshan caused prices to briefly spike above $100,000 per metric ton — forcing the LME to halt trading and cancel trades, a highly controversial decision that led to ongoing regulatory scrutiny.
Key producers beyond Indonesia include the Philippines, Russia (Norilsk Nickel), Canada, and Australia. Nickel prices are quoted on the London Metal Exchange (LME) in USD per metric ton. With global EV adoption accelerating, nickel demand from battery applications is projected to surpass stainless steel demand within the next decade, making it a critical metal for the energy transition.
Frequently Asked Questions
Why is nickel important for EVs?
Nickel is a key component of high-energy-density lithium-ion battery cathodes, particularly NMC (nickel manganese cobalt) and NCA (nickel cobalt aluminum) chemistries. Higher nickel content in cathodes increases battery energy density, extending EV driving range. Leading automakers and battery manufacturers are actively securing long-term nickel supply agreements to support EV production targets.
What is the difference between Class 1 and Class 2 nickel?
Class 1 nickel (purity ≥99.8%) includes refined nickel cathodes, briquettes, and powder suitable for EV batteries and specialty alloys. Class 2 nickel (lower purity) includes nickel pig iron and ferronickel, primarily used in stainless steel production. EV battery manufacturers require Class 1 nickel, while the surge in Indonesian Class 2 supply has created a structural market imbalance.
Why does Indonesia dominate nickel supply?
Indonesia sits atop the world's largest nickel ore reserves (laterite deposits) and has aggressively developed its nickel processing industry, banning raw ore exports in 2020 to force domestic value-added processing. Chinese investment has been instrumental in building Indonesian nickel smelting capacity, particularly for nickel pig iron (NPI) used in stainless steel.
What happened with nickel prices in 2022?
In March 2022, nickel prices spiked to over $100,000/metric ton — more than double historical levels — due to a short squeeze involving Chinese producer Tsingshan Holding Group. The LME suspended trading and controversially cancelled billions of dollars worth of trades, sparking lawsuits and regulatory investigations into the exchange's risk management practices.
How can I invest in nickel?
Investors can gain nickel exposure through LME nickel futures (ticker NI), mining company stocks (Norilsk Nickel, Vale, BHP, Glencore), or nickel-focused ETFs. Some battery metals funds also provide indirect nickel exposure alongside cobalt and lithium. Physical nickel investment is uncommon due to the metal's bulk and storage requirements.