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Nickel Powder Prices, Demand and Supply Overview
2025
Base Year
2023-2025
Historical Period
2026-2027
Forecast Period
Market Overview
Nickel Powder prices in Germany, the highest-cost reporting region, rose 8.0% in H1 2026, climbing from USD 30.0/KG in Q1 to USD 32.4/KG by Q2 as spring EV battery cathode material, powder metallurgy, and catalyst formulation procurement and firmer LME nickel spot prices drove consistent buying following the brief Q1 2026 pricing moderation. Globally, the average rose from USD 21.00/KG in Q1 to USD 22.68/KG in Q2, an 8.0% gain. For H2 2026, a global average of USD 22.3-25.0/KG is expected, with continued firming on Middle East supply disruptions and growing EV battery cathode, powder metallurgy, and electronics sector demand globally.
Nickel Powder is a high-purity nickel metal in particulate form produced principally by the Mond carbonyl process, in which crude nickel reacts with carbon monoxide to form volatile nickel tetracarbonyl, which is thermally decomposed to deposit high-purity nickel powder of controlled particle size, yielding spherical particles typically 2 to 7 micrometres in diameter with purity above 99.8 percent. Alternative routes include hydrometallurgical ammoniacal solution reduction with hydrogen, electrolytic deposition followed by milling, and inert gas atomisation for coarser grades. The largest pull comes from EV battery cathode precursor manufacture, where high-purity nickel powder serves as a key raw material for NMC and NCA cathode active materials, with higher nickel ratios providing greater energy density in battery cells. Powder metallurgy structural component manufacture, nickel-based catalyst formulation for hydrogenation and petrochemical reactions, conductive paste and MLCC electrode formulation, and diamond tool binder matrix add further major demand. LME nickel price, carbonyl process energy costs, and regional production capacity all feed into the price.
Nickel Powder Price Forecast for 2026
The balance of supply and demand for Nickel Powder through H2 2026 leans moderately firm. LME nickel prices firmed from Middle East supply chain and energy disruptions. EV battery cathode, powder metallurgy, and electronics demand are growing with expanding electric vehicle production and clean energy investment globally.
The main upside risk is an LME nickel price spike alongside accelerating high-nickel NMC and NCA cathode battery procurement. The main downside risk is Indonesian laterite nickel surplus and LFP cathode substitution maintaining price pressure below the forecast range.
| Region | Price Forecast (USD/KG) | Key Driver |
| Global Average | 22.3 - 25.0 | LME firming and EV battery/powder metallurgy/electronics demand |
| United States | 24.1 - 26.8 | Steady EV battery and powder metallurgy demand holds firm |
| China | 16.6 - 19.3 | Large production capacity keeps it the most affordable |
| Germany | 29.8 - 32.5 | High LME and energy costs keep it the most expensive |
| India | 23.0 - 25.7 | Growing battery and powder metallurgy demand holds a firm middle |
For the Quarter Ending June 2026
Nickel Powder Prices Q2 2026:
- United States: USD 26.2/KG
- China: USD 18.1/KG
- Germany: USD 32.4/KG
- India: USD 25.1/KG
Nickel Powder Prices in the United States
US Nickel Powder prices averaged USD 26.2/KG in Q2 2026, up 7.8% from USD 24.3/KG in Q1 2026. Firmer LME nickel and carbonyl process costs and recovering EV battery and powder metallurgy procurement drove consistent buying following the Q1 moderation.
Why did the price of Nickel Powder change in Q2 2026 in the United States?
Firmer LME nickel spot prices raised the powder production floor. EV battery NMC and NCA cathode precursor, powder metallurgy structural component, and catalyst formulation procurement lifted buying. Electronics conductive paste and diamond tool demand provided additional support near USD 26.2/KG.
Nickel Powder Prices in China
Chinese Nickel Powder prices averaged USD 18.1/KG in Q2 2026, up 7.7% from USD 16.8/KG in Q1 2026, the lowest among the tracked markets. Spring EV battery cathode and electronics export and domestic procurement lifted buying. Firmer domestic LME costs raised the floor despite large domestic production capacity.
Why did the price of Nickel Powder change in Q2 2026 in China?
Spring EV battery cathode and electronics procurement lifted buying. Firmer domestic LME nickel and production costs raised the floor. Large domestic production capacity kept China the most affordable source near USD 18.1/KG.
Nickel Powder Prices in Germany
German Nickel Powder prices averaged USD 32.4/KG in Q2 2026, up 8.0% from USD 30.0/KG in Q1 2026, the highest among the tracked markets. Higher LME nickel import and carbonyl process energy costs elevated European production economics. Recovering EV battery, powder metallurgy, and catalyst demand maintained buying.
Why did the price of Nickel Powder change in Q2 2026 in Germany?
Higher LME nickel import and carbonyl process energy costs elevated European production economics. Middle East supply disruptions added cost premiums to nickel material chains. Recovering EV battery cathode, powder metallurgy, and catalyst procurement maintained buying near USD 32.4/KG.
Nickel Powder Prices in India
Indian Nickel Powder prices averaged USD 25.1/KG in Q2 2026, up 8.2% from USD 23.2/KG in Q1 2026. Growing EV battery, powder metallurgy, and catalyst export and domestic demand supported buying. Firmer LME and import costs raised the floor.
Why did the price of Nickel Powder change in Q2 2026 in India?
Growing EV battery cathode and powder metallurgy procurement lifted buying. Firmer LME nickel and import costs raised the production floor. Electronics and catalyst export demand provided additional support near USD 25.1/KG.
For the Quarter Ending March 2026
Nickel Powder Prices Q1 2026:
- United States: USD 24.3/KG
- China: USD 16.8/KG
- Germany: USD 30.0/KG
- India: USD 23.2/KG
Nickel Powder Prices in the United States
US prices averaged USD 24.3/KG in Q1 2026, easing about 0.8% from Q4 2025. Post-quarter EV and powder metallurgy procurement moderation and soft LME costs eased the market before the Q2 spring procurement surge.
Why did the price of Nickel Powder change in Q1 2026 in the United States?
Post-quarter EV battery and powder metallurgy procurement moderation reduced urgency. Soft LME nickel and carbonyl process costs eased the floor. The market eased to USD 24.3/KG before the Q2 spring EV procurement surge.
Nickel Powder Prices in China
Chinese prices averaged USD 16.8/KG in Q1 2026, easing about 0.6% from Q4 2025. Post-Lunar New Year EV and electronics procurement moderation held the market near USD 16.8/KG.
Why did the price of Nickel Powder change in Q1 2026 in China?
Post-Lunar New Year EV battery and electronics procurement moderation reduced urgency. Soft domestic LME and production costs eased the floor. The market eased to USD 16.8/KG before the Q2 spring procurement surge.
Nickel Powder Prices in Germany
German prices averaged USD 30.0/KG in Q1 2026, easing about 0.9% from Q4 2025. Post-quarter EV and powder metallurgy procurement moderation and soft LME and energy costs eased the European market near USD 30.0/KG.
Why did the price of Nickel Powder change in Q1 2026 in Germany?
Post-quarter EV battery cathode and powder metallurgy procurement moderation reduced urgency. Soft LME nickel import and carbonyl energy costs eased the floor. The market eased to USD 30.0/KG before the Q2 procurement surge.
Nickel Powder Prices in India
Indian prices averaged USD 23.2/KG in Q1 2026, easing about 0.9% from Q4 2025. Post-holiday EV and powder metallurgy procurement moderation held the market near USD 23.2/KG.
Why did the price of Nickel Powder change in Q1 2026 in India?
Post-holiday EV battery and powder metallurgy procurement moderation reduced urgency. Soft LME nickel and import costs eased the production floor. The market eased to USD 23.2/KG before the Q2 spring EV battery procurement surge.
Quarterly Nickel Powder Price Trends
Global Nickel Powder prices followed an alternating pattern, dipping in Q3 2025 and Q1 2026 on seasonal procurement moderation before recovering in Q4 2025 and surging in Q2 2026. The average eased from USD 21.0/KG in Q2 2025 to USD 20.79/KG in Q3, recovered to USD 21.21/KG in Q4, eased to USD 21.00/KG in Q1 2026, then surged to USD 22.68/KG in Q2 2026, a net gain of about 8.0% over the window. LME nickel price cycles and EV battery cathode, powder metallurgy, and electronics procurement drove the alternating pattern.
| Quarter | Price (USD/KG) | QoQ Change | Direction |
| Q2 2026 | 22.68 | +8.0% | ↑ Rising |
| Q1 2026 | 21.00 | -1.0% | ↓ Falling |
| Q4 2025 | 21.21 | +2.0% | ↑ Rising |
| Q3 2025 | 20.79 | -1.0% | ↓ Falling |
| Q2 2025 | 21.0 | - | - Stable |
| Q3 2026 | In Progress | - | - In Progress |
What was Nickel Powder Price in 2025?
Nickel Powder prices firmed modestly through 2025 on EV battery cathode and electronics demand. The global average opened near USD 20.57/KG in Q1 2025 and closed at USD 21.21/KG in Q4, a full-year gain of about 3.1%. LME nickel price dynamics and EV battery cathode and powder metallurgy procurement drove the quarterly pattern throughout the year.
Nickel Powder Prices in the United States in 2025
US prices firmed from about USD 23.8/KG in Q1 2025 to USD 24.5/KG by Q4, a gain of 2.9%. Consistent EV battery and powder metallurgy demand supported the upward trend.
Nickel Powder Prices in China in 2025
Chinese prices firmed from roughly USD 16.5/KG in Q1 2025 to USD 17.0/KG by Q4, a gain of 3.0%. Growing EV battery and electronics demand drove modest firming.
Nickel Powder Prices in Germany in 2025
German prices firmed from about USD 29.4/KG in Q1 2025 to USD 30.3/KG by Q4, a gain of 3.1%. Consistent EV battery, powder metallurgy, and catalyst demand and firm LME costs supported.
Nickel Powder Prices in India in 2025
Indian prices firmed from roughly USD 22.8/KG in Q1 2025 to USD 23.4/KG by Q4, a gain of 2.6%. Growing EV battery and powder metallurgy demand drove moderate firming.
How We Can Help
Expert Market Research: Your Source for Real-Time Nickel Powder Price Intelligence
Expert Market Research tracks Nickel Powder prices continuously across every major producing and consuming region. The team traces causation through LME nickel spot price economics, EV battery cathode procurement cycles, and regional carbonyl process and atomisation production capacity. Contact Expert Market Research today for Nickel Powder pricing data, bespoke market analysis, and strategic procurement advisory.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
EV battery cathode precursor manufacture as a key raw material for NMC and NCA cathode active materials, where higher nickel ratios deliver greater energy density in battery cells, takes the largest and fastest-growing share. Powder metallurgy structural components, nickel-based hydrogenation and petrochemical catalysts, conductive paste and MLCC electrode formulation for electronics, and diamond tool binder matrix also consume significant volumes globally.
The Q2 2026 average was USD 26.2/KG in the United States, USD 18.1/KG in China, USD 32.4/KG in Germany, and USD 25.1/KG in India. Germany remains the highest-priced market.
The global average rose from USD 21.00/KG in Q1 to about USD 22.68/KG in Q2, a gain of around 8.0%. Spring EV battery cathode and powder metallurgy procurement and firmer LME nickel drove the H1 surge following the Q1 moderation.
EV battery cathode and powder metallurgy procurement cycles create alternating quarterly buying patterns. Post-season moderation in Q1 and Q3 creates dips while spring EV and electronics procurement surges drive upticks, amplified by LME nickel spot price volatility.
The global average is expected in the USD 22.3 to 25.0/KG range for H2 2026, with continued firming as LME nickel stays elevated and EV battery, powder metallurgy, and electronics demand grows.
Germany sits highest on LME import and carbonyl energy costs, the United States and India hold a firm middle on EV and powder metallurgy demand, and China prices lowest on large production capacity.
This report is updated monthly. For real-time pricing intelligence, contact the Expert Market Research team directly.
Prices respond mainly to LME nickel spot price, EV battery cathode procurement cycles, and electronics sector output. LME nickel prices and EV production data are the key upstream signals.
The Mond carbonyl process facilities in Canada, the United Kingdom, and Russia hold the largest high-purity powder capacity, with China producing significant volumes by hydrometallurgical and atomisation routes. Any LME nickel move ripples across markets within days.
Buyers can use quarterly trends and forecasts to time EV battery and powder metallurgy contracts around LME nickel cycles, build cover when spot nickel signals rise, and monitor EV production data as the primary demand signal.
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