LME Nickel Price Analysis for Mid-2025: Trends and Key Levels

London, July 19, 2025 – The global nickel market is showing a trend of price correction in the middle months of 2025, following a period of strong volatility in the second quarter. Investors and businesses in the supply chain are closely monitoring developments on the London Metal Exchange (LME) to assess the market outlook for the second half of the year.

Nickel Price Movements in the Last 3 Months

Looking back at the last quarter, the price of nickel has been on a slight downward trend. As of July 18, 2025, the metal's price had decreased by approximately 4.47% compared to three months prior. This development indicates that the market is seeking a new equilibrium price after a period of heated growth.

During the quarter, nickel prices reached notable milestones:

• Highest Peak: $16,085/tonne on April 1, 2025.
• Lowest Point: $14,100/tonne on April 9, 2025.

The nearly $2,000 difference within just one week highlights the high volatility of the market during that period.

Recent Trading Updates (July 2025)

Entering July, the nickel price continued its corrective trend. Compared to the previous month, the price in July has fallen by about 1.06%, hovering around an average of $15,144/tonne.

In the most recent trading sessions, as of July 18, the spot price for nickel on the LME was listed in the range of $14,765 – $14,800/tonne. The futures contract also recorded a price near $15,000/tonne, with a slight decrease of less than 1% in the last 24 hours. This suggests that short-term market sentiment is fairly stable but remains cautious.

Market Outlook

In summary, the main trend for LME nickel prices from the beginning to the middle of 2025 has been a gradual correction from the peak in April. Currently, the price is entering a stable zone, fluctuating within a range of $14,500 - $15,500/tonne, with monthly variations of around 1-2%.

This trend reflects a balance between supply-demand factors and global macroeconomic signals. The outlook for nickel prices in the coming months will heavily depend on demand from the stainless steel industry and the production of electric vehicle batteries, the two largest nickel-consuming sectors in the world.