China's Nickel Ore Reserves Fall Sharply, Causing Market Concerns

Since November 2023, China's nickel ore reserves have fallen nearly 24% to about 2.4 million wet metric tons, according to Carbo Group data as of March 4, 2024. With the onset of the Asian rainy season, China's nickel ore reserves are expected to decline further. During the rainy season, many nickel mines are flooded due to open-pit mining and the volume of ore shipped is significantly reduced.

1. Will there be an alarming nickel shortage in 2024?

The market has become increasingly concerned about ore availability lately, with some analysts predicting a surprise nickel shortage in 2024 if Indonesia does not issue new mining licenses.

2. German DAX index: German stock index sets a new record

The DAX index is currently breaking all records. Germany's leading stock index hit its seventh consecutive record high on Friday morning, closing at 17,807.65 points. This means that since the end of October 2023, the DAX has risen by more than 3,000 points.

The DAX's little brother, MDax, has also risen sharply since October, gaining more than 2,300 points. On Friday, the index stood at 26,004.69 points.