Multiple Indonesian media outlets have reported that Western nations are potentially orchestrating a campaign to discredit Indonesian nickel, labeled as "dirty," in an effort to reclaim their own shrinking market shares. Meanwhile, Asian stock markets remain positively influenced by stimulus measures from China.

Asian Stock Markets Ride the Wave of Stimulus
The positive trend in Asian stock markets persists, with markets continuing to rise on Thursday. Following the Chinese government's announcement of further economic stimulus measures, Asian stock markets have experienced a boost, and this upward trajectory seems set to continue.

In Germany, the German stock index (DAX) also saw gains, reaching a record high of over 19,141.55 points today.

Iron ore prices have also been positively impacted, increasing by approximately 1.75% on the Dalian Commodity Exchange (DCE) today, with Iron Ore Seaborne Brands surging by up to 3.5%.

Alleged Western Campaign Against Indonesian Nickel
In recent reports, several Indonesian media sources have suggested that Western countries may be conducting a campaign against Indonesian nickel, which they deem "dirty." According to Tri Winarno, the Indonesian Director General of Minerals and Coal, this campaign stems from concerns over Indonesia's competitive and cost advantages in the market.

Winarno has urged local mining companies to uphold environmental standards and mining best practices to effectively counter this campaign.

EU's Long-standing Critique of Indonesian Nickel and Stainless Steel
The European Union has long been critical of Indonesia's nickel mining and stainless steel production. European stainless steel manufacturers, along with their lobbying group EUROFER, have repeatedly sought to sway public opinion against Indonesian products by highlighting the high CO2 emissions associated with their production.

EU Increasingly Reliant on Indonesian NPI and Slab Imports
Data from the EU statistical authority EUROSTAT indicates that European manufacturers have grown increasingly dependent on imports of nickel pig iron (NPI) and stainless steel slabs and ingots from Indonesia in recent years. Germany, along with the Netherlands and Italy, has now joined the UK as an importer of Indonesian NPI.

EU Manufacturers Lobby for CBAM Concessions
In recent weeks, there has been a noticeable increase in lobbying efforts by EU and UK manufacturers. They are advocating for exemptions and a relaxation of the EU Carbon Border Tax (CBAM) for imports of CO2-intensive primary products.

This situation underscores the hypocrisy of the European Commission and the domestic stainless steel monopoly, which seeks to import cheap raw materials without restrictions while simultaneously flooding the market with punitive tariffs, causing significant damage to their own economy in both the short and long term.