Quick Conversions
Nickel Reference Rate — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
A Global Producer List Reshuffled by Indonesia's Rise
Nickel mining has long been associated with names like Vale and Norilsk Nickel, but the balance of global supply has shifted hard toward Indonesia over the past several years. Today's nickel reference rate is ₹1.41 per gram on September 21, 2026.
- Vale S.A.: Brazilian mining giant, among the world's largest nickel producers
- MMC Norilsk Nickel: Russian producer, Class 1 nickel output exceeding 200,000 tonnes annually
- Indonesian producers: now responsible for roughly two-thirds of global mine production
Nickel Reference Rate by Weight
Today's Nickel rate is One Rupees per gram. At this rate, 10 grams of Nickel costs Fourteen Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹1.41 | One Rupees |
| 8 Grams | 8.0000 g | ₹11.31 | Eleven Rupees |
| 10 Grams | 10.0000 g | ₹14.14 | Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹141.37 | One Hundred and Forty One Rupees |
| 1 Kilogram | 1,000.0000 g | ₹1,413.68 | One Thousand Four Hundred and Fourteen Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹40.08 | Forty Rupees |
| 1 Troy Ounce | 31.1035 g | ₹43.97 | Forty Four Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹1,413,682.00 | Fourteen Lakh Thirteen Thousand Six Hundred and Eighty Two Rupees |
The Companies Behind Indonesia's Dominance
PT Aneka Tambang (Antam), a state-owned enterprise, holds multiple nickel concessions across Indonesia and ranks among the country's largest domestic producers. PT Weda Bay Nickel operates one of the largest nickel concessions in the country, on Halmahera Island in North Maluku. Nickel Industries Limited, listed on the Australian Securities Exchange, runs its Indonesian exposure through joint-venture processing facilities rather than owning mines outright — a structure that's become common as international capital has poured into Indonesian nickel processing.
Why Australia's producers have struggled by comparison
BHP's Nickel West remains one of Australia's largest primary nickel operations, but the broader Australian industry has been hit hard by the same global surplus depressing prices everywhere: Australian production fell an estimated 54% in 2025 as multiple companies placed mines into care-and-maintenance status. The core issue is cost — Indonesian laterite processing has become cheap enough to keep expanding profitably at prices that make higher-cost Australian mines uneconomical to run.
| Company | Country | Role |
|---|---|---|
| Vale S.A. | Brazil | Major diversified nickel and iron ore miner |
| MMC Norilsk Nickel | Russia | Major Class 1 nickel producer |
| PT Aneka Tambang (Antam) | Indonesia | State-owned domestic nickel producer |
| PT Weda Bay Nickel | Indonesia | Major concession operator, Halmahera Island |
| Nickel Industries Limited | Australia (ASX) / Indonesia ops | JV-based Indonesian processing exposure |
| BHP Nickel West | Australia | Major primary nickel operation |
Nickel Reference Rate — Last 10 Days
The most recent Nickel price on record (2026-09-21) is One Rupees per gram.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-21 | ₹1.41 | 0.00 |
| 2026-09-20 | ₹1.41 | 0.00 |
| 2026-09-19 | ₹1.42 | +0.00 |
| 2026-09-18 | ₹1.42 | -0.01 |
| 2026-09-17 | ₹1.42 | +0.01 |
| 2026-09-16 | ₹1.41 | +0.01 |
| 2026-09-15 | ₹1.39 | -0.03 |
| 2026-09-14 | ₹1.43 | -0.01 |
| 2026-09-13 | ₹1.44 | +0.00 |
| 2026-09-12 | ₹1.43 | — |
What This Means for Anyone Considering Nickel Exposure
There's no single dedicated nickel ETF with the depth gold or copper investors are used to, so equity exposure to nickel mining runs mostly through diversified mining companies — many of which, like Vale and BHP, generate significant revenue from other metals too, meaning a nickel-focused investment thesis still comes bundled with exposure to iron ore, copper or other commodities depending on the company. The sharp divergence between Indonesia's expanding, low-cost producers and Australia's contracting, higher-cost ones is itself one of the more important stories in the sector right now, and worth understanding before choosing which producers to follow.
For nickel's own price trend, the comparison table and history above track the live reference rate, and the site's nickel price history page holds a longer record.
This page is for general information, not investment advice. Company shares carry risks beyond the underlying commodity price. Consider consulting a qualified financial advisor before making investment decisions.
Nickel Mining Stocks — FAQs
Vale S.A., the Brazilian mining giant, and MMC Norilsk Nickel (Nornickel), the Russian producer, are widely considered among the world's largest nickel producers, with Nornickel alone reporting annual Class 1 nickel output exceeding 200,000 tonnes. Indonesia's rapid production growth has also elevated its domestic producers and joint-venture operators to major global significance.
An outsized one. Indonesia alone accounts for roughly two-thirds of global mine production, and companies including PT Aneka Tambang (Antam), a state-owned enterprise, and PT Weda Bay Nickel, which operates one of the largest nickel concessions in the country on Halmahera Island, are central to that output. Nickel Industries Limited, an ASX-listed company, operates through joint ventures with Indonesian processing facilities as well.
BHP's Nickel West is one of Australia's largest primary nickel operations, though Australian production fell sharply -- an estimated 54% in 2025 -- as multiple companies placed mines into care-and-maintenance status amid persistently low prices, a reminder that even major operations can pause production when the market surplus makes mining uneconomical.
Nickel doesn't have the same depth of dedicated retail ETF options that gold or even copper have, given its more specialized industrial buyer base. Investors interested in nickel exposure typically look at diversified mining companies with nickel operations or broader battery-metals and critical-minerals funds instead.
Cost structure is the key difference. Indonesia's nickel laterite deposits, processed increasingly through high-pressure acid leaching and rotary kiln-electric furnace technology, have driven down production costs enough to keep expanding even as the global market ran a persistent surplus. Higher-cost Australian operations, by contrast, have struggled to stay profitable at the same prices, leading several to pause production rather than mine at a loss.
