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Today's Starting Point — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
The Event Every Nickel Trader Still References
Today's nickel benchmark sits at ₹1.41 per gram, as of September 17, 2026 — a routine, unremarkable number next to what happened in March 2022. In the space of hours, nickel prices on the London Metal Exchange more than doubled, driven by a short squeeze: traders holding bets that prices would fall found themselves forced to buy back their positions to limit losses, and that forced buying pushed prices higher still, feeding on itself.
The LME's response was as unusual as the squeeze itself. The exchange suspended nickel trading entirely — something that had not happened in decades — and cancelled a full day's worth of trades, an intervention that remains one of the most debated moments in modern commodity-market history.
Today's Baseline Across Weight Units
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 | ₹11.28 | Eleven Rupees |
| 10 Grams | 10.0000 g | ₹14.11 | Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹141.06 | One Hundred and Forty One Rupees |
| 1 Kilogram | 1,000.0000 g | ₹1,410.57 | One Thousand Four Hundred and Eleven Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹39.99 | Forty Rupees |
| 1 Troy Ounce | 31.1035 g | ₹43.87 | Forty Four Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹1,410,573.00 | Fourteen Lakh Ten Thousand Five Hundred and Seventy Three Rupees |
Why Nickel Specifically, and Why So Suddenly
A short squeeze needs two ingredients: a large concentrated bet on falling prices, and a market thin enough that a rush to unwind that bet can't be absorbed smoothly. Nickel, despite being a major industrial metal, trades in a market considerably less deep than something like copper — fewer participants, less daily volume relative to the size of large industrial positions. That combination made a squeeze of this scale possible in a way it likely wouldn't have been in a deeper market.
What changed afterward
The episode triggered real scrutiny of exchange risk management and position-limit practices across the industry — genuine structural attention, not just a one-off news cycle. Whether that scrutiny fully eliminates the possibility of a similar event happening again in some other metal, or even nickel itself, isn't something any honest source can promise. What's true is that the market has continued trading and functioning since, and the 2022 event is now a well-documented reference point rather than an ongoing crisis.
Recent Prices — Last 10 Days
The most recent Nickel price on record (2026-09-17) is One Rupees per gram.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹1.41 | +0.00 |
| 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 | +0.00 |
| 2026-09-11 | ₹1.43 | -0.02 |
| 2026-09-10 | ₹1.45 | -0.01 |
| 2026-09-09 | ₹1.46 | +0.01 |
| 2026-09-08 | ₹1.45 | — |
Reading This History Without Overreacting to Today's Chart
It's tempting to see any sharp move on the 10-day chart above and think "squeeze." Almost none of them are. Ordinary supply and demand shifts — a change in Indonesian export policy, a swing in stainless steel demand, an EV-battery demand surge — explain the overwhelming majority of nickel's day-to-day movement. The 2022 squeeze was a genuine outlier, not a template for how this market normally behaves.
For the fuller trend beyond this one event, the site's own /nickel-price-history/2026 archive carries the complete daily record. Treating March 2022 as one important chapter in a much longer, mostly ordinary price history is the more accurate way to hold it in context.
Nickel Price Crashes — Honest Answers
Nickel prices more than doubled within hours on the London Metal Exchange, driven by a short squeeze — traders who had bet on falling prices were forced to buy back their positions at any price to close out, driving the price sharply higher in a self-reinforcing spiral.
The exchange suspended nickel trading entirely, something that had not happened in decades, and cancelled a full day's worth of trades — an extraordinary intervention that remains one of the most discussed events in modern metals-market history.
It was fundamentally a spike — a sudden, extreme price increase — even though the aftermath, as the market normalized and positions unwound, did produce a sharp decline from the squeeze's peak. Both directions were part of the same disorderly event, not two separate crashes.
No source can honestly guarantee it won't. What's true is that the 2022 episode prompted real scrutiny of exchange risk controls and position-limit rules industry-wide, which is a genuine structural change — but it doesn't eliminate the underlying possibility of a large, concentrated short position colliding with a supply shock again.
Nickel's 2022 episode is genuinely unusual in scale even among industrial metals — a multi-hour, multi-fold price move is rare. It reflects nickel's relatively thinner market depth compared with something like copper, where a comparable short squeeze would need vastly more capital to engineer.
