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Nickel Price — Recent Trend Feeding the Outlook
All prices in ₹ per gram · daily rate, updated once per day
A Nickel Price Outlook, Not a Prediction
Nickel is at ₹1.42 per gram today, September 18, 2026. Anyone looking for a firm number for where that goes next won't find one here, and should be cautious of anyone who claims to have one — commodity prices, nickel especially, are shaped by too many moving parts for a confident single-figure prediction to mean much. What this page offers instead is a look at the factors analysts and traders actually watch when they talk about where nickel could be headed.
That distinction matters more for nickel than for most metals, given its history. A market that has already produced one of the sharpest short squeezes on record — the March 2022 episode that forced the London Metal Exchange to suspend nickel trading — is not a market where confident forecasting has a strong track record.
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 | ₹1.42 | One Rupees |
| 8 Grams | 8.0000 g | ₹11.33 | Eleven Rupees |
| 10 Grams | 10.0000 g | ₹14.16 | Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹141.60 | One Hundred and Forty Two Rupees |
| 1 Kilogram | 1,000.0000 g | ₹1,415.98 | One Thousand Four Hundred and Sixteen Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹40.14 | Forty Rupees |
| 1 Troy Ounce | 31.1035 g | ₹44.04 | Forty Four Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹1,415,983.00 | Fourteen Lakh Fifteen Thousand Nine Hundred and Eighty Three Rupees |
What Could Push the Price Either Way
On the demand side, nickel-rich EV battery cathode chemistries — NMC and NCA — represent a demand line that is expected to keep growing as electric vehicle production scales up globally. If that growth continues at pace and stainless steel demand stays firm at the same time, the combined pull on nickel supply could tighten the market. That is a real possibility worth tracking, not a settled outcome.
The supply-side wildcard
On the supply side, Indonesia's outsized role is the factor most likely to move the needle in either direction. Continued investment in Indonesian smelting and processing capacity could keep supply growing in line with demand, which would tend to keep prices more contained. A shift in export policy, a slowdown in new capacity, or any disruption concentrated in one dominant producer could have the opposite effect — and because supply is so concentrated there, the impact of any such shift is likely to be larger than it would be for a more geographically diversified metal.
Currency remains a background factor for the India-side number specifically: a weaker rupee tends to lift the domestic rate independent of what the international benchmark is doing, and a stronger rupee works the other way.
Nickel Price — Last 10 Days
The most recent Nickel price on record (2026-09-18) is One Rupees per gram. This is down by Less than One Rupees from the previous day's rate of ₹1.42.
| Date | Price (INR/g) | Change |
|---|---|---|
| 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 | +0.00 |
| 2026-09-11 | ₹1.43 | -0.02 |
| 2026-09-10 | ₹1.45 | -0.01 |
| 2026-09-09 | ₹1.46 | — |
How to Use an Outlook Like This
The honest use of a page like this is as a checklist, not a crystal ball. If EV production numbers are accelerating and Indonesian supply growth is struggling to keep pace, that combination is worth watching for potential upward pressure. If the opposite is happening — supply expanding faster than demand, or a stainless steel slowdown alongside soft battery demand — the pressure could tilt the other way.
Nickel's own history is the clearest argument against overconfidence here. A market capable of doubling in hours during a short squeeze is a market where "is expected to" and "could" are doing real, honest work — not hedging for its own sake. Treat any forecast, including the framing on this page, as a way of understanding the forces in play, not a number to bank on.
Nickel Price Forecast — FAQs
No one can say that with certainty, and any source that states a firm number or a guaranteed direction should be treated with real skepticism. What can be said is that nickel's price direction tends to follow the balance between stainless steel demand, EV battery demand growth, and how much Indonesia and other producers choose to supply — watching those factors is more useful than chasing a single predicted number.
Growing EV battery demand for nickel-rich chemistries (NMC and NCA) is a genuine structural trend that could support demand over the coming years. Whether that translates into higher prices depends heavily on how fast supply — particularly from Indonesia — expands alongside it, which is far less certain to predict.
Yes, potentially significantly. Because Indonesia accounts for such a large share of global supply, any shift in its export or processing policy could move prices more than a similar change would for a metal with more distributed production. This remains a genuine watch factor rather than a settled outcome.
A repeat of that exact scenario cannot be ruled out or predicted with any confidence — it involved a specific and unusual combination of concentrated positioning and thin market liquidity. What is fair to say is that a market with concentrated supply and volatile demand growth is structurally more exposed to sharp moves than a more diversified commodity, which is worth keeping in mind rather than treating the 2022 event as a one-off curiosity.
Indonesian production and policy news, the pace of global EV and battery manufacturing growth, stainless steel demand trends tied to construction and industrial activity, and broader USD/INR movement for the India-side rate. None of these alone decides the outlook, but together they explain most of what shows up in the price.
