Nickel Boner Update, page-5919

Macquarie Equities expert Lennon is calling for a NP recovery faster and stronger than the market is expecting (market wrongly thinks its in doldrums for a decade lol), see below-
NP is going UP, the fake Indo surplus narrative has been debunked,
western Ni supply is in massive DEFICIT,
globally the surplus projections are way way lower than market expects and all of that fake surplus is held by china and the eastern block not the west and they are depleting it FAST as demand has tripled which the market hasnt realised as global military production has doubled.

Macquarie has historically ramped WSA SIR (now part of IGO).
Yet only POS & IGO are left amongst the ASX NI producers/miners to ramp now as WSA MCR PAN MBN are all gone & BHP is cutting back NWest subsumed by IO & Cu now.

https://w w w . a f r . c o  m/ c ompanies/mining/why-macquarie-s-nickel-veteran-thinks-the-rout-is-over-20240305-p5f9u7

“Essentially, demand in China was much stronger than most people had in their numbers. This unseen level of demand means there is less nickel inventory sitting in Chinese hands than previously assumed. And that means Chinese steel producers and other manufacturers using alloys will have to come back to the market for more nickel. The discovery has prompted Mr Lennon to cut his forecast nickel surplus for 2024 from more than 100,000 tonnes to less than 40,000 tonnes – “a major change from our recent forecasts”, his team said in a note issued late last week.
“That means that, moving forward, the market can correct a lot more quickly. It’s not as if there’s a mountain of inventory that’s got to be worked off before you get back into a balanced market.”

Macquarie boyz on there way to POS share ledger imho.
No better % gainer choice imho.