Commodity profile – Nickel

The document details the global nickel market, highlighting Indonesia's dominance in production and the shifting demand from stainless steel toward electric vehicle batteries. It outlines the technical processing pathways for Class I and Class II nickel, the geopolitical impact of export bans, and the environmental footprints associated with different mining and refining methods.

• Indonesia is the world's leading nickel producer, accounting for 59% of global production and 42% of global reserves in 2024.
• The end-use of nickel is shifting significantly toward the energy transition; battery applications are projected to grow from 7% of primary nickel consumption in 2021 to 41% by 2040, while stainless steel's share is expected to drop from 69% to 45% in the same period.
• The global nickel market is influenced by significant geopolitical events and regulatory shifts, including Indonesia's nickel export ban and the introduction of the EU's Carbon Border Adjustment Mechanism (CBAM) and Corporate Sustainability Due Diligence Directive (CSDDD).
• Environmental impacts vary by processing route, with different GHG emissions intensities for Class I nickel depending on whether it is derived from sulphide ores, laterite via HPAL, or laterite via NPI matte.
• Secondary supply through recycling is a component of the value chain, with 68% of end-of-life nickel being recycled into new products, while 17% is lost to landfill or dissipation.

APA

Hamisi, J., Rezola, O. A., Madi, D., Bellois, G., Ramdoo, I., Gottschalk, E., & Gulley, A. (2026). Commodity profile – Nickel. International Institute for Sustainable Development. https://www.iisd.org/system/files/2026-02/commodity-profile-nickel.pdf

Chicago

Hamisi, Jonathan, Ottavia Austin Rezola, Dalia Madi, Grégoire Bellois, Isabelle Ramdoo, Erin Gottschalk, and Andrew Gulley. Commodity profile – Nickel. International Institute for Sustainable Development, 2026. https://www.iisd.org/system/files/2026-02/commodity-profile-nickel.pdf.

Wikipedia

{{cite report |last1=Hamisi |first1=Jonathan |last2=Rezola |first2=Ottavia Austin |last3=Madi |first3=Dalia |last4=Bellois |first4=Grégoire |last5=Ramdoo |first5=Isabelle |last6=Gottschalk |first6=Erin |last7=Gulley |first7=Andrew |title=Commodity profile – Nickel |publisher=International Institute for Sustainable Development |date=2026 |url=https://www.iisd.org/system/files/2026-02/commodity-profile-nickel.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{hamisi2026commodity, author = {Hamisi, Jonathan and Rezola, Ottavia Austin and Madi, Dalia and Bellois, Grégoire and Ramdoo, Isabelle and Gottschalk, Erin and Gulley, Andrew}, title = {{Commodity profile – Nickel}}, institution = {International Institute for Sustainable Development}, year = {2026}, url = {https://www.iisd.org/system/files/2026-02/commodity-profile-nickel.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }