Country Report
Global nickel industry cost summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Our current update of the Nickel Industry Cost Service estimates that industry costs will decline by 3% to average $14,979/t Ni on a C1 + sustaining capital basis in 2025. Favorable exchange rates (-US$189/t) and lower realization costs (-US$193/t) outweigh cost inflation (+US$154/t), and lower revenue from by-product credits (+US$159/t Ni). For the sulphide producers, mixed effects from higher copper (+2%) and gold (+5%) prices offset falls in cobalt (-12%).
Table of contents
- Updated data and analysis, Q1 2025
Tables and charts
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What's included
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