Quick Conversions
Nickel Reference Rate — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
Nickel Trades in Tonnes, Not Grams
Scaled from today's per-gram rate of ₹1.41, a tonne of nickel comes to ₹1,413,682.00 on September 21, 2026. Unlike gold or silver, where a tonne is a purely theoretical scale-check, nickel's real international benchmark — the London Metal Exchange cash price — is itself quoted in US dollars per tonne, making this page's unit the one professional buyers and sellers actually use.
- 1 kilogram: ₹1,413.68
- 1 tonne: ₹1,413,682.00
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 |
Five Years of LME Nickel, Tonne by Tonne
Nickel's tonne-scale price has told a genuinely dramatic story since 2021. The annual average LME cash price climbed from about $18,476 a tonne in 2021 to a peak of $25,815 in 2022 — the year of nickel's infamous short-squeeze episode, when a rush to cover short positions briefly sent prices spiraling. Since that peak, prices have eased in every subsequent year: $21,495 in 2023, $16,812 in 2024, and an estimated $15,000 in 2025, according to the US Geological Survey's 2026 Mineral Commodity Summaries.
Why the price keeps sliding: a persistent surplus
The reason isn't demand collapsing — it's supply outrunning it. The International Nickel Study Group has tracked a global primary nickel surplus every year since 2022, and that surplus has been widening: roughly 98,500 tonnes in 2022, 170,000 in 2023, 182,000 in 2024, and about 189,000 tonnes in just the first nine months of 2025, driven largely by continued Indonesian production growth.
| Year | LME Nickel Cash Price (per tonne) |
|---|---|
| 2021 | $18,476 |
| 2022 | $25,815 (peak — short-squeeze year) |
| 2023 | $21,495 |
| 2024 | $16,812 |
| 2025 (estimated) | $15,000 |
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 Actually Gets Delivered at This Scale
LME-deliverable nickel isn't a single cast bar — it must meet a minimum 99.80% purity standard (grade Ni9990, per international specifications) and can be delivered as full plate, cut cathodes, pellets, briquettes or rounds. Global mine production reached an estimated 3.9 million tonnes in 2025, up 5% year-on-year, with Indonesia alone contributing roughly two-thirds of that total as its operations continued to expand.
The comparison table and 10-day history above track how the reference rate has moved recently. For a longer view, the site's own nickel price history page holds real recorded data.
Nickel Price Per Tonne — FAQs
Scaled from today's per-gram figure of ₹1.41, one tonne of nickel works out to ₹1,413,682.00 on September 21, 2026. This mirrors the actual unit international nickel trading uses -- the London Metal Exchange quotes nickel in US dollars per tonne, not per gram or per ounce.
It's been on a multi-year downtrend from 2022's spike. The annual average LME nickel cash price ran from about $18,476 a tonne in 2021 to a peak of $25,815 in 2022 -- the year of the notorious short-squeeze episode -- then eased to roughly $21,495 in 2023, $16,812 in 2024, and an estimated $15,000 in 2025, according to the US Geological Survey.
A persistent global surplus. According to the International Nickel Study Group, the global primary nickel market has run in surplus every year since 2022 -- an estimated 98,500 tonnes in 2022, 170,000 tonnes in 2023, 182,000 tonnes in 2024, and about 189,000 tonnes through the first nine months of 2025 alone, as Indonesian production kept expanding faster than demand could absorb it.
LME-deliverable nickel must meet a minimum 99.80% purity standard (grade Ni9990, per ASTM B39-79 or the Chinese standard GB/T 6516-2010) and is delivered as full plate, cut cathodes, pellets, briquettes, or rounds -- not as a single cast "ingot" in the way the word is sometimes used informally.
Substantial. Global mine production rose an estimated 5% to about 3.9 million tonnes in 2025, with Indonesia alone accounting for roughly two-thirds of that total after its production grew an estimated 13% for the year, according to USGS.
