Quick Conversions
The Refined Benchmark Scrap Prices Off — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
One Benchmark, Several Real-World Prices
Today's refined nickel benchmark is ₹1.42 per gram, as of September 18, 2026. Nobody selling scrap nickel, ingot or alloy stock actually transacts at exactly this figure — it's the reference point everything else gets priced relative to. Scrap dealers, foundries and alloy manufacturers each apply their own adjustment depending on form, purity and processing cost.
- 1 gram (refined benchmark): ₹1.42
- 1 kilogram (refined benchmark): ₹1,415.98
- 1 metric tonne (refined benchmark): ₹1,415,983.00
Every scrap, ingot or alloy quote you encounter in the real market should be read as this benchmark plus or minus a negotiated adjustment — not as an independent number disconnected from it.
Today's Refined 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 | ₹1.42 | 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 |
Why Scrap Trades at a Discount and Ingot Trades Close to Par
Nickel ingot — a standard cast form of primary refined metal — stays closest to the benchmark because it's already at usable purity with minimal further processing required. Scrap is a different proposition entirely. It typically arrives mixed with coatings, other metals or general contamination, and recovering clean, standard-purity nickel from it takes real processing work. That work costs money, and the discount scrap trades at reflects exactly that cost, not an arbitrary markdown.
Alloys are their own category entirely
A nickel-based alloy isn't priced as "nickel plus a premium" in any simple sense. Each alloy grade — combining nickel with chromium, molybdenum, iron or other elements in specific ratios for corrosion resistance, high-temperature strength or other performance needs — has its own nickel content percentage and its own manufacturing cost structure. Two alloys with similar nickel content can price very differently depending on what else is in the mix and how demanding the specification is.
Recycled nickel, largely recovered from stainless steel scrap, is a genuine and meaningful secondary supply source running alongside primary mined output. It responds to price signals faster than new mining capacity can, since collecting and reprocessing scrap doesn't require years of project development the way a new mine does.
Recent Prices — 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 | — |
Using the Benchmark to Negotiate, Not Just to Reference
For anyone actually buying or selling nickel scrap, ingot or alloy stock, the practical value of tracking this page daily isn't finding one universal price — it's having a credible, up-to-date reference point to negotiate from. Knowing today's refined benchmark, and roughly how the 10-day and longer trends have moved, puts a buyer or seller in a stronger position than relying on a supplier's word alone or a stale figure from weeks ago.
The site's /nickel-price-history/2026 archive extends that same reference point across the full year, useful for anyone negotiating a longer-term supply contract rather than a single spot transaction.
Nickel Scrap and Alloy Pricing — Honest Answers
Scrap nickel typically comes mixed with other metals, coatings or contaminants, so buyers apply a discount to account for the extra processing needed to recover usable, purity-graded nickel from it. The refined benchmark on this page assumes clean, standard-purity metal.
Nickel ingots are a standard cast form of refined primary nickel, so ingot pricing tracks close to the LME/domestic refined benchmark, with smaller adjustments for form, brand and delivery terms rather than the larger discounts scrap carries.
Nickel-based alloys blend nickel with chromium, molybdenum, iron or other elements in specific ratios for particular performance needs — corrosion resistance, high-temperature strength, and so on. Each alloy grade has its own nickel content percentage and processing cost, so no single "alloy price" exists independent of the specific grade.
Recycling, particularly from stainless steel scrap, is a genuine and significant secondary supply source alongside primary mined nickel. It doesn't replace the need for primary production, but it does add real supply that responds to price incentives faster than new mining capacity can.
Start from today's refined benchmark of ₹1.42 per gram, then apply a discount reflecting the scrap's actual purity and contamination level — a discount that varies by scrap grade and is something a buyer or recycler negotiates directly rather than reading off a single published number.
