7 February 2025 – The Philippine government intends to pass a law restricting raw material exports from June 2025. The Philippines is the second largest nickel ore producer in the world. CBAM: EU considers exemption for 80% of affected companies. China: Record New Year figures and consumption on the upswing.
CBAM: EU considers exemption for 80% of affected companies
As was announced yesterday, the European Commission appears to want to drastically ease the European Carbon Border Tax CBAM and exempt 80% of the companies currently affected by the CO2 tax from the reporting obligations. It is not yet known what this relief could look like, but it is expected to be presented in February. Previously, the European People’s Party (EPP) had already called for a suspension and revision of CBAM and exemptions for companies with fewer than 1,000 employees at its Leader Retreat in January 2025.
Thorsten Gerber, CEO of the Gerber Group, said today: ‘Our ongoing efforts towards the Commission and the EU Parliament to achieve relief for small and medium-sized enterprises regarding CBAM and to do more for their competitiveness now seem to have been successful.’ He continued: ‘However, we will not let up and will continue to fight loudly and on a factual basis for SMEs in Europe. The decades-long hocus-pocus and propaganda of the EU steel lobby now also seems to be coming under increasing criticism in Brussels and Strasbourg.’
Nickel export ban: Philippines plan export restrictions on raw materials
The Philippine Congress could ratify a bill banning the export of raw minerals as early as June, the Senate President said on Thursday. The law is intended to help establish a processing industry in the Asian country within five years.
The Philippines is the second largest nickel ore supplier in the world, with the majority of supplies currently going to China. The government has urged mining companies to invest in processing plants rather than just shipping raw ore in the hope of replicating the success of No. 1 nickel supplier Indonesia in boosting mining revenues.
China: Record New Year figures – consumption on the upswing
The Chinese New Year has provided impressive economic impetus: Over 300 million people travelled every day and tourist attractions counted a total of 500 million visitors. With revenues of almost 90 billion euros, the tourism sector recorded an increase of seven per cent.
Analysts see this upturn as a strengthening of domestic brands, similar to 2021, and the growing popularity of domestic products could once again provide an economic boost. China’s propensity to consume is thus proving to be a driving force for growth and innovation.
Latest news
- Nickel prices in Asia jump upwards
- China responds to new US tariffs with countermeasures
- Indonesian nickel ore mining quotas significantly reduced
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