The Impact of the International Copper Price Fluctuation on the Copper Industry in Tongling
Based on LME copper price and copper industry chain data,this paper uses VAR model to explore the impact of international copper price fluctuation on Tongling copper industry.The results show that there is a bi-directional causal relationship between the fluctuation of international copper price and the output of electrolytic copper in the upstream and the quantity of electronic components in the downstream,and a unidirectional causal relationship between the fluctuation of international copper price and the output of copper in the middle reaches of Tongling copper industry.The fluctuation of international copper price has a small but long-term positive impact on the production of electrolytic copper in the upstream of Tongling City,and the impact on the number of electronic components in the downstream is delayed but the biggest.In order to reduce the impact of international copper price fluctuations,Tongling City needs to cooperate with listed companies to form an international copper price monitoring system to reduce volatility risks,rely on the existing basic backbone enterprises to complete the effective connection and integration of the copper industry chain in the middle and downstream,and build a good financing environment for scientific and technological innovation based on its own resource endowment.
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