| Title | Quantifying economic sectoral iron commodity use and related vulnerability in China's supply chains |
|---|---|
| ID_Doc | 7902 |
| Authors | Wang, Y; Ma, FM; Tzachor, A; Wang, P; Wang, HM; Lyu, J; Yue, Q; Du, T; Chen, WQ; Liang, S |
| Title | Quantifying economic sectoral iron commodity use and related vulnerability in China's supply chains |
| Year | 2023 |
| Published | |
| Abstract | With its widespread use in manufacturing and machinery, iron is a crucial metal for modern society. However, knowledge about the economic vulnerability of iron from multiple perspectives remains unexplored, especially for China, a country responsible for more than half of global iron and steel consumption. This study aims to quantify the inter-sectoral flows of iron commodities and the caused economic vulnerabilities, using an input-output model and complex network analysis methods. Results show that the residential building construction sector was the most vulnerable sector from a direct perspective. However, the final uses of certain services (e.g., the public administration and social organizations sector and business services sector) were more vulnerable concerning supply restriction from a consumption-based perspective. Based on the above findings, policy rec-ommendations, such as circular economy and material substitutions are proposed to help improve resource ef-ficiency and reduce the vulnerability of critical sectors from dependence on iron and steel. |
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