Benchmark: LME cash nickel (Class 1), in-warehouse. The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Market note |
|---|---|---|
🌐 LME (Class 1) Global · terminal market | In-warehouseBenchmark | Full-plate/briquette Class 1 reference |
🇨🇳 Sulphate premium (battery) China · CAM feed | Battery-grade | Nickel sulphate premium over metal for cathode precursors |
🇷🇺 Russia (Nornickel) Russia · top Class 1 | FOB, LME-deliverable | Deliverable but buyers cautious — small discount |
🇮🇩 Indonesia MHP Indonesia · HPAL intermediate | Ni units, payable | Mixed hydroxide for batteries — payable discount to metal |
🇮🇩 NPI (Class 2) Indonesia · stainless feed | Ni-in-NPI | Nickel pig iron — huge RKEF supply well under Class 1 |
Origin notes are qualitative context. Dollar differentials are not shown, because no public differential series is attached.
Track physical flows on the live vessel map →Converted from 16,324.00 USD/t · indicative FX
Nickel is traded in the base metals segment. The series on this page is the named public source, not a live feed. Physical parcels of Nickel can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Class-1 nickel remained soft on ample NPI and refined output, with stainless demand insufficient to absorb the surplus.