commodity

Nickel

Mostly used in stainless steel, and a growing share in battery cathodes. Indonesia now mines about two-thirds of the world's nickel.

Figures checked Next check Feb 2027, after USGS Mineral Commodity Summaries 2027

Key figures

Each figure shows where it comes from and which year it describes.

~3.9 Mt

of nickel was mined in 2025, up 5% on 2024.

USGS Mineral Commodity Summaries 2026 · 2025 estimate

67%

of mined nickel came from Indonesia, about 2.6 Mt.

USGS Mineral Commodity Summaries 2026, our calculation · 2025 estimate

54%

of identified nickel resources are laterite; 35% are sulphide.

USGS Mineral Commodity Summaries 2026 · 2025

189,000 t

market surplus in the first nine months of 2025.

International Nickel Study Group, via USGS · Jan–Sep 2025

Supply chain explainer

Interactive · 6 stages

Mined at 1–3%. Refined to 99.8%. Built in at 8%.

Six stages from laterite and sulphide ore to stainless steel products, plus the battery route, with nickel content and the record that moves at each handover.

  1. Mine0.8–3%
  2. Smelter or HPAL8–75%
  3. Refinery22–99.8%
  4. Stainless mill8–10.5%
  5. Fabricator8–10.5%
  6. End customers8–10.5%

Update log

What changed on this page, and when.

  1. Scheduled

    Check production figures against USGS Mineral Commodity Summaries 2027.

  2. Published

    Page published with the supply chain explainer and key figures from USGS Mineral Commodity Summaries 2026.

Related

  • Guide · PDF by emailPilot to scale-up

    Why traceability rollouts stall after the pilot, the data blueprint, the first 90 days and a go-live checklist.

  • One-pager · ImageTraceability rollout in one page

    Sixteen steps from naming the scale-up budget holder to showing momentum in the first 90 days, on a single page.

Sources

  1. USGS Mineral Commodity Summaries 2026: Nickel
  2. International Nickel Study Group

Planning a traceability rollout, or one that has stalled after the pilot? Book a 30-minute call.