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Nickel Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
What Actually Moves the Nickel Price
Nickel sits at ₹1.41 per gram today, September 17, 2026, and behind that single number are three forces doing most of the work: what stainless steel producers need, what Indonesia's mines and smelters are doing, and how fast EV battery demand is growing. Understand those three and the rest of nickel's price behaviour mostly falls into place.
The starting point for the number itself is the international benchmark set on the London Metal Exchange, converted into rupees at the prevailing USD/INR rate. Everything below explains what pushes that benchmark up or down before the currency conversion even happens.
- Today's rate, 1 gram: ₹1.41
- Today's rate, 1 kilogram: ₹1,410.57
Nickel Price 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 | ₹11.28 | 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 |
The Demand Side: Stainless Steel Still Leads, EV Batteries Are Catching Up
Nickel's largest single use, by a wide margin, is still stainless steel — it is the alloying ingredient responsible for stainless steel's resistance to corrosion, and that application alone accounts for the bulk of global nickel consumption. When construction, infrastructure and industrial equipment demand runs strong, stainless steel output rises with it, and nickel demand follows.
A newer, faster-growing demand line
Layered on top is the battery story. Nickel-rich lithium-ion chemistries — commonly shortened to NMC or NCA in industry conversation — use nickel as a direct cathode material, and this demand line has grown quickly as global EV production has scaled up. It is still smaller than the stainless steel base today, but its growth rate is exactly why analysts and investors watch it so closely when discussing nickel's future.
These two demand sources don't always move together. A slowdown in construction can soften stainless steel demand at the same time EV production keeps climbing, or vice versa — which is part of why nickel's price behaviour can look less predictable than a metal with one dominant use.
Nickel Price — 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 | — |
The Supply Side: Indonesia's Outsized Role
On supply, one country dominates the conversation: Indonesia. It has become by far the largest nickel-producing country in recent years, on the back of major investment in domestic smelting and processing capacity that turned raw ore into a much larger share of finished nickel output than the country produced before. The Philippines, Russia, Canada and Australia remain genuine producers, but none rival Indonesia's current scale.
That concentration cuts both ways for prices. When Indonesian output and policy stay stable, the market has one less thing to worry about. When something shifts there — an export rule, an investment decision, a processing bottleneck — the effect on world nickel prices tends to be larger than an equivalent shift would be for a metal whose supply is spread across many countries. Nickel pig iron, the cheaper substitute produced mainly in Indonesia and China for the stainless steel industry, is itself a product of this same concentration, and its availability shapes how much pricing power refined nickel has at any given time.
Put together — a demand base split between an old, large industry and a new, fast-growing one, sitting on top of a supply base concentrated in one country — and it becomes easier to see why nickel behaves differently from most of the base metals it gets compared against.
What Affects Nickel Price — FAQs
Stainless steel production. Nickel is the alloying ingredient that gives stainless steel its corrosion resistance, and this use case accounts for the largest share of global nickel demand by a wide margin, ahead of every other application combined.
Indonesia has become by far the largest nickel-producing country in the world, after years of heavy investment in domestic smelting and processing capacity. Because so much global supply now sits in one country, decisions there — around exports, investment, or processing policy — can move world prices more than a similar decision would for a metal with a broader supply base.
It is a real and growing demand source — nickel-rich cathode chemistries, referred to as NMC and NCA in the industry, use nickel directly as a battery material — but it remains smaller than the stainless steel demand base. Its influence has been growing as EV production scales up, which is why it gets particular attention when people talk about nickel's future.
Yes. The domestic rate starts from the international nickel benchmark, set on the London Metal Exchange, converted into rupees at the day's USD/INR exchange rate. A weaker rupee raises the India-side rate even if the international benchmark hasn't moved at all, and a stronger rupee works the other way.
It has an influence. Nickel pig iron (NPI), a cheaper, lower-purity form produced mainly in Indonesia and China for the stainless steel industry, gives stainless steel producers an alternative to higher-purity refined nickel. When NPI supply is abundant, it can cap how much stainless steel demand alone pushes up the refined nickel price.
