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Other metal sectors also faced dwindling demand.
Regarding innovation forward linkages, the chemical and primary metal sectors have strong effects, with no innovation backward linkages.
(3) The global value of refined cobalt represents only about 2.5%% of the global value of the 'Other non-ferrous metal' sectors, and hence, the error introduced by the hybridization is very small.
However, a detailed flow analysis for specific metals, especially non-base metals, requires a high-resolution IO and disaggregation of metal sectors to avoid the flow of metals being aggregated and unable to be distinguished from each other even for Japan who has one of the highest resolution of IO table.
Disaggregation of individual metal sectors in IO tables, as shown by Hawkins et al. (2007), Nakamura et al. (2008), Nakajima et al. (2013), Ohno et al. (2014), has been done at the country level, but requires very detailed data that are usually not available for critical metals on the global scale.
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The metal sector, fed by China's insatiable demand for steel, is booming and profitable.
There's merger news in the metal sector as well.
This MRIO model was hybridized by disaggregating cobalt flows from the nonferrous metal sector.
One last shiny name from the metal sector is Arcelor Mittal, a steel manufacturer based in the Netherlands.
However, while the chemical sector exerts positive effects, the primary metal sector negatively contributes to other sectors' innovation.
We chose EXIOBASE because it contains six different metal production sectors (cobalt is part of the 'other non-ferrous metal' sector) and seven different metal mining sectors, including separate sectors for copper and nickel ore mining.
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