OREANDA-NEWS  In 2026, nickel rose in price by more than 5 percent amid events in Venezuela and uncertainty about supplies from Indonesia. Kommersant reports on a sharp rise in the price of one metal, citing data from the analytical company BigMint.

The price of nickel on the London Metal Exchange (LME) increased 5.2 percent over the week, as prices rose to 17.8 thousand dollars per ton. At the same time, on January 6, quotes exceeded the 18,000 mark for the first time since September last year.

Analysts attribute the trend to uncertainty about production in Indonesia, a country that provides about 60 percent of global supplies. The Government of the Republic plans to cut quotas for the extraction of nickel ore by a third, to 250 million tons, and tighten the issuance of permits from three-year to annual.

Another reason is the soaring copper prices amid heightened geopolitical tensions following the abduction of Venezuelan President Nicolas Maduro by US forces. Instability in the South American country may increase consumers' desire to secure essential minerals.

BigMint assumes that by 2031, the global nickel market will grow by an average of 5.5 percent per year amid demand for electric cars, batteries and stainless steel (nickel is an alloying element in its production). The global market could reach $47.2 billion in 2031.

In early December 2025, copper stock prices reached a historic high amid the expected strengthening of domestic demand in China. The shortage of copper observed in the global market will continue to push prices up, analysts believe. The "panic purchases" of non-ferrous metals do not contribute to the stabilization of the situation.