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In 2025, nickel had an average price of approximately * U.S. dollars per metric ton, a decrease of more than U.S. dollars compared to the previous year. 

Top nickel producing regions

In 2024, Indonesia produced the largest volume of nickel from mines in the world, totaling an estimated *** million metric tons, while the Philippines produced ** metric tons. Norilsk Nickel (also known as Nornickel) from Russia is one of the largest producers of nickel in the world. One of its largest mining operations is located in northern Russia within the Norilsk-Talnakh area.

Nickel life cycle

Nickel is a lustrous metal and is used for various applications, such as in plating metals, due to its resistance to corrosion. Nickel is not mined directly but is extracted from ores such as iron ore limonite, from which the metal can be extracted through roasting and reduction processes. Most often, nickel is used as part of nickel steels, including stainless steel, in alloys, and in electroplating. The worldwide consumption of nickel exceed million metric tons in 2024. Historically, nickel has been used since 3500 BCE as a natural nickel-iron alloy.