Country Report
Global nickel industry cost summary
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Report summary
Wood Mackenzie's Q2 2025 Nickel Industry Cost Service forecasts a slight reduction in costs for producers, set against persistently low nickel prices. This improvement stems from higher by-product revenues and lower mining costs, bolstered by the closure of high-cost operations in 2024. However, the industry faces new challenges, including revised Indonesian royalty regulations and uncertainty surrounding US tariffs. These factors, combined with sustained price pressures, are squeezing profitability for a substantial portion of producers.
Table of contents
- Updated data and analysis, Q2 2025
Tables and charts
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What's included
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