Nickel Soars 10% in London, Reaches Three-Year High at $18,785/Ton
Nickel prices surged in London on Tuesday, climbing more than 10% in a single session and marking the biggest one-day rise in over three years as the LME benchmark reached $18,785 per ton. The move capped a punishing two-week rally of more than 20%, extending a sharp upward run that has rapidly tightened the market and drawn heightened attention from traders and industrial buyers.
The jump matters because nickel is a key input for stainless steel and battery production; sustained strength can push costs higher across manufacturing and EV supply chains and increase hedging activity. Market participants will be watching LME stock levels, physical flows and any supply disruptions closely, as continued momentum could drive further volatility and spill over into related commodity and equity markets.