The Philippines is looking to replicate Indonesia’s nickel market success with a potential export tax or outright ban on exports.
returned sideways in the short term after finding a peak in January. Since the price has not bounced high enough to confirm an uptrend, downside risk may increase. Meanwhile, volume levels appear at least partially responsible for current stainless and nickel price action. Overall buyer volume has continued to decline since January. This comes after a much more substantial loss of liquidity in 2022.
to Environment and Natural Resources Secretary Yulo Loyzaga, “we want to move out from being just part of the supply chain. We want to be part of the value chain.” In terms of market impact, a tax from the Philippines would add support to the nickel price, albeit to a lesser extent. It would also tighten nickel supply for the foreseeable future, thus increasing production costs for downstream industries. However, it is likely more of a medium- or long-term threat.
Other critics have noted the flawed comparison between Indonesia and the Philippines. While Indonesia accounts for 48% of global supply, the Philippines accounts for just 11%. This gives Indonesia considerably more leverage in the market.to the U.S. Geological Survey , the Philippines was the second largest producer in 2022. Still, its output sat markedly beneath that of Indonesia.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Baftas 2023 red carpet: The looks we're loving as the stars arriveThe Baftas are back for 2023 and we’ll be sharing the standout ‘fits from the red carpet 🎬🥂
Lire la suite »
Newcastle 'closely monitoring' out-of-favour Arsenal man as Howe looks to replace £13m favouritePremier League club Newcastle United are reportedly considering a summer move for Scotland and Arsenal left-back Kieran Tierney.
Lire la suite »
Heartbeat star Niamh Cusack looks unrecognisable 27 years on from soap exitIRISH actress Niamh Cusack shot to fame in the early 90s when she starred in the much-loved show Heartbeat. The 63-year-old enjoyed great success after appearing in the ITV drama series as Doctor K…
Lire la suite »
BAFTAs 2023: All the celebrity looks from the red carpetSee all the stars on the red carpet including hosts Richard E. Grant and Alison Hammond
Lire la suite »