Commodity Origins

Copper vs Nickel

Copper's biggest producer is Chile (23%, 2025); Nickel's is Indonesia (67%, 2025). The latest benchmark prices on file (September 2026) are $14,474/t for copper and $16,324/t for nickel. Their monthly price moves have moderately tracked each other over the 800 months compared (r = 0.34).

Copper compared with Nickel
CopperNickel
CategoryMetalsMetals
Top producerChile (23%, 2025)Indonesia (67%, 2025)
World production23 million tonnes3.9 million tonnes
Top exporterChile (29%, 2024)Norway (15%, 2024)
Latest price$14,474/t (September 2026)$16,324/t (September 2026)
12-month change+45%+8%

Price since January 1960, rebased to 100

Each price divided by its own January 1960 value and multiplied by 100, so the two can share one chart regardless of unit. Starts at January 1960 because that is the later of the two series' first published month.

Copper vs Nickel monthly prices, index, Jan 1960 to Sep 2026Line chart of copper vs nickel monthly prices in index from Jan 1960 to Sep 2026: Copper from 100 to 2,024, peaking at 2,024; Nickel from 100 to 1,001, peaking at 3,199.05001,0001,5002,0002,5003,0003,50019601965197019751980198519901995200020052010201520202025index
CopperNickel

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Production: FAOSTAT, USGS Mineral Commodity Summaries or the Energy Institute Statistical Review, whichever each commodity page cites. Trade: CEPII BACI, primary HS line. Prices: World Bank Pink Sheet, monthly averages, not investment advice.