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23, LKAB announced that it intends to integrate forward in the steel supplychain and start producing "sponge iron" as a value-added product from its current pellet product, using the HYBRIT process. This pivot in business strategy has major significance for the global steel industry. New challenges, new opportunities.
Both measures are due to be finalised in 2025 and come into force from 2027. “The adoption of the [strategy] is a monumental development for the IMO and opens a new chapter towards maritime decarbonisation,” said IMO Secretary-General Kitack Lim. “At the same time, it is not the end goal.
As part of its climate bill, Massachusetts increased its offshore wind commitments by an additional 2,400 MW for a target of 5,600 MW of installed capacity by 2027. Corporations are making their supplychains and operations more sustainable as part of transformative changes taking place across business sectors.
Given the size of the globaleconomy (roughly $111 trillion according to IMF data), a difference of a couple of trillion dollars in trade growth may not seem dramatic. As a result, China would likely maintain its role as a key exporter in the globaleconomy.
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