Quick Conversions
Nickel Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
Where Nickel Actually Comes From
Nickel is trading at ₹1.41 per gram today, September 17, 2026, but that number's origin starts thousands of kilometres from any trading floor — in nickel ore deposits, concentrated overwhelmingly in one part of the world. If you ask where nickel comes from today, the honest short answer is Indonesia, by a wide margin, with a handful of other established producers filling in the rest of global supply.
That is a genuinely different picture from a decade or two ago, when nickel supply was more evenly spread across a longer list of countries. Understanding how that changed is central to understanding nickel's price behaviour today.
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 | ₹14.10 | Fourteen Rupees |
| 100 Grams | 100.0000 g | ₹140.97 | One Hundred and Forty One Rupees |
| 1 Kilogram | 1,000.0000 g | ₹1,409.67 | One Thousand Four Hundred and Ten Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹39.96 | Forty Rupees |
| 1 Troy Ounce | 31.1035 g | ₹43.85 | Forty Four Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹1,409,666.00 | Fourteen Lakh Nine Thousand Six Hundred and Sixty Six Rupees |
Indonesia's Rise to the Top
Indonesia has become by far the largest nickel-producing country in the world, and the shift did not happen by accident. The country holds substantial nickel ore reserves, but the bigger change was a deliberate, sustained push to build domestic smelting and processing capacity rather than simply shipping raw ore overseas for other countries to process. That investment turned Indonesia from a major ore exporter into the dominant source of finished nickel products, including the nickel pig iron that feeds much of the world's stainless steel industry.
The other real producers
Indonesia's dominance doesn't mean the rest of the world stopped mining nickel. The Philippines remains a substantial nickel ore producer with a long mining history of its own. Russia has been a significant nickel producer for decades, with established mining and refining operations. Canada and Australia both have long-standing nickel mining industries, built on deposits that have supplied global markets well before Indonesia's recent rise. None of these four currently matches Indonesia's scale, but together they represent a real and necessary share of global supply outside the dominant producer.
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 | — |
Why Supply Concentration Is the Story to Watch
When one country accounts for such a large share of global output, the market's relationship with that country's policy decisions becomes unusually important. A shift in Indonesian export rules, a change in the pace of new smelting investment, or a disruption to existing operations there carries more weight for world nickel prices than an equivalent event would for a metal whose production is spread across many countries in roughly similar shares.
India, for context, is not a significant nickel-mining country itself and relies substantially on imports to supply its stainless steel and alloy industries — which is exactly why the benchmark tracked on this page runs through the international LME nickel price and the USD/INR exchange rate, rather than any domestic mined reference. Wherever nickel is ultimately used — in a stainless steel kitchen fitting or an EV battery cathode — the ore it started as very likely came from Indonesia, or from one of the small handful of other countries still doing meaningful nickel mining today.
Where Nickel Comes From — FAQs
Indonesia. It has become by far the largest nickel-producing country in the world in recent years, on the back of major investment in domestic mining and, especially, smelting and processing capacity that turned raw nickel ore into a much larger share of globally traded finished nickel.
The Philippines, Russia, Canada and Australia are all genuine, established nickel producers, each with a long history in the industry. None currently rivals Indonesia's scale, but together they represent a meaningful share of global supply outside Indonesia.
Indonesia holds substantial nickel ore reserves, and over the past decade it directed heavy investment into building domestic smelting and processing infrastructure rather than simply exporting raw ore. That shift — turning the country from primarily an ore exporter into a major producer of finished nickel products, including nickel pig iron — is what drove its rise to the top of the global supply table.
Yes, directly. Because supply is so concentrated in Indonesia, changes in that country's policy, investment pace, or output can move the international nickel benchmark — and therefore the India-side rate of ₹1.41 per gram shown here — more than an equivalent change would for a metal with a more evenly distributed supply base.
India is not a significant nickel-mining country and relies substantially on imports to meet domestic demand for stainless steel and other nickel-consuming industries. This is one reason the rupee-converted international benchmark, rather than a domestic mined price, is the relevant reference for Indian buyers.
