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Energy efficiency in sectors including iron and steel, petrochemicals, non-ferrous metals and building materials will have reached an internationally advanced level by then, according to the plan.

Erected on sea water, arrays of photovoltaic panels glow in the sun while fishers paddle in the interspace.

Iron-ore and steel prices tumbled on Friday as prospects of a sharp global economic downturn fanned fears of a slump in demand for commodities, despite signs of a rebound in manufacturing activity in top metals consumer China.

Australia’s resource and energy export earnings are estimated to be worth A$405-billion in 2021/22, and are forecast to rise to A$419-billion in 2022/23, delivering two successive record years, the Office of the Chief Economist reported on Monday.

American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,736,000 net tons (NT) of steel in May 2022.

In the week ending on June 25, 2022, US domestic raw steel production was 1,750,000 net tons while the capability utilization rate was 80.2 percent.

Experts: Expanded program key to helping firms grow, enhance their roles in real economy

To decarbonise its production sites in Bremen, Hamburg, Eisenhüttenstadt and Duisburg as planned, ArcelorMittal Germany needs renewable energy on a large scale.