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Explanation of the Nickel Price Indicator

Nickel is an important non-ferrous metal traded in international commodity markets. This indicator measures the spot price of nickel expressed in U.S. dollars per metric ton ($/mt), with reference primarily made to trading prices on the London Metal Exchange (LME). Nickel is a silvery-white metal with excellent corrosion resistance and rust-resistant properties, making it widely used across various industries.

Nickel is primarily used in the manufacture of stainless steel. The production volume of stainless steel worldwide is enormous, and its demand has a major impact on nickel prices. Furthermore, the importance of nickel as a positive electrode material in lithium-ion batteries for electric vehicles (EVs) has been growing rapidly in recent years. With the expansion of the EV market, nickel demand is expected to surge dramatically, making this indicator an important measure of long-term industrial trends.

Additionally, nickel prices function as a leading indicator reflecting global economic conditions. In periods when construction and infrastructure investment increase, stainless steel demand rises, and nickel prices tend to appreciate.

Notable considerations include the sensitivity of nickel supply to geopolitical risks. Policy changes or production adjustments in major producing countries have significant impacts on prices. In the long term, decarbonization and EV proliferation are mega-trends that structurally support nickel demand. For investors and companies, nickel price movements represent an important economic signal.