4 March 2024 – Chinese nickel ore stocks have fallen significantly by almost 24% since the end of 2023. Analysts are already speculating on a surprising deficit for 2024. And the German DAX share index is on the hunt for records, reaching a new high last Friday.
Nickel ore inventories in China fall significantly
Nickel ore stocks in China have fallen by almost 24%, or around 2.4 million wet metric tonnes (wmt), since November 2023. With the onset of the rainy season in Asia, during which many nickel mines are flooded due to open-cast mining and significantly less ore can be shipped, Chinese nickel ore stocks are expected to fall even further.
Will 2024 see a surprising nickel deficit?
The market has recently become increasingly concerned about the general availability of ore, with some analysts predicting an unexpected shortfall in nickel in 2024 if Indonesia does not grant any further mining licences.
DAX: German share index on the hunt for records
The DAX is currently racing from one record to the next. On Friday morning, the leading German index reached its seventh record in a row at 17,807.65 points. This means that the DAX has gained more than 3,000 points since the end of October 2023.
The smaller DAX brother, the MDax, has also risen significantly since October, gaining more than 2,300 points. On Friday, it stood at 26,004.69 points.
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