• Title/Summary/Keyword: Copper price

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Analysis of the Korean Copper Price Elasticity using Time-Varying Model (시변 모형을 이용한 국내 구리 가격탄력성 분석)

  • Kangho Kim;Jinsoo Kim
    • Environmental and Resource Economics Review
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    • v.33 no.2
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    • pp.135-157
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    • 2024
  • In this study, we analyzed the changes in copper consumption according to copper price fluctuations and identified the domestic copper price elasticity. A total of 408 time series data from January 1989 to December 2022 were analyzed using the vector autoregressive (VAR) model with net import volume, price, and production index as variables. In addition, to identify changes in the correlation between variables over time, the dynamic relationship between variables was identified using the time-varying vector autoregressive (TV-VAR) model. As a result of the analysis, it was confirmed that the negative price elasticity for copper is -0.1835. In addition, the interquartile range was -0.3130 ~ 0.0886, with no consistent trend over time, but mainly negative elasticity. This study can be used to quantify the expected impact of various policy proposals and changes related to minerals.

Analysis on the Lotting Price Fluctuation of the Multi-Family Attached House According to the Construction Material Cost Variation (건설자재 가격 변동에 따른 공동주택 분양가 변화 분석)

  • Choi, Yeol;Yim, Ha Kyoung;Park, Bong Woon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.29 no.6D
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    • pp.753-760
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    • 2009
  • This study analyzed the fluctuation of the construction material cost from 2001 to 2008 in Busan to examine the effect of the fluctuation of the construction material cost on lotting price of the multi family attached house. The major findings are as follow. First, as the result of the analysis on four materials such as reinforced bar, remicon, PHC piles, Copper Tubes, those take largest portion of construction cost, it was found that the there is wide difference in price fluctuation of the each materials. The reinforced bar and Copper Tubes showed high price increase by an average 14.03% and 14.91% per year while remicon, PHC piles remained almost unmoved by an average 0.86% and 2.41%. Second, According to the result of the analysis on the mutuality between the fluctuation of the construction material cost and the lotting price of the multi-family attached house, it was found that the fluctuation of the construction material cost have the most enormous effect on the sale price of the multi-family attached house, when there is 3 month time lag in reinforced bar, remicon, PHC piles, Copper Tubes, commonly. Also this mutuality continues to 6 month, 9 month and 1 year, although it decrease a little bit.

Economic Feasibility of Culture Using the Copper Alloy Net Cage and the Profit Model of Fish Farm on Yellowtail, Seriola quinqueradiata (동합금 가두리망 방어양식의 경제성과 수익구조)

  • Hwang, Jin-Wook
    • The Journal of Fisheries Business Administration
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    • v.52 no.2
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    • pp.33-54
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    • 2021
  • This study is aimed to analyze the economic feasibility of yellowtail culture using the copper alloy net cage in Gyeongsangbuk-do. First of all, in order to evaluate the copper alloy net cage on yellowtail culture, I review the trend on the yellowtail culture industry and research the concept of copper alloy net cage. The copper-alloy net cage is now recognized as an advantages of its system stability, recycling, antibiosis and food safety. The results were summarized as follows: first, there was significant meaning of the profit model of yellowtail culture by the price difference. Second, I analyzed in the economic feasibility of yellowtail culture using the copper alloy net cage, internal rate of return (IRR) was 51.58%, a benefit-cost ratio was shown to be 2.27 and net present value (NPV) was 1,087,337 thousand won, which indicates the economic feasibility of yellowtail culture using the copper alloy net cage is profitable. Finally, in order to improve the economic valuation, it is necessary to focus more on the developing of technology and cost reduction strategy on the copper alloy net cage.

The Study of Efficiency and Characteristics Comparison between Aluminum and Copper Die Casting Induction Motor for Improving Efficiency (유도전동기 효율향상을 위한 알루미늄 및 동 다이캐스팅 적용 시의 동작특성 및 효율 비교연구)

  • Han, Pil-Wan;Lee, Ju
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.61 no.1
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    • pp.70-74
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    • 2012
  • Copper die casting motor (CDM) has a better design flexibility than aluminium die casting motor (ADM) because of the higher conductivity of copper. However, CDM has an economic and manufacturing weak point due to high copper price and high melting temperature compared to ADM. This paper describes a comparison of the design parameters, specifications, performances and material cost between CDM and ADM of 5.5kW_6P.

Analysis of Price Forecasting and Goodness-of-Fit of the Metals Extracted from Deep Seabed Manganese Nodules (심해저 망간단괴에서 추출되는 금속가격 예측 및 적합도 분석)

  • Kwon, Suk-Jae;Jeong, Sun-Young
    • Ocean and Polar Research
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    • v.36 no.4
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    • pp.505-514
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    • 2014
  • The development of deep seabed manganese nodules has been carried out with the aim of commercial development in 2023. It is important to forecast the price of the four metals (copper, nickel, cobalt, and manganese) extracted from manganese nodules because price change is a criterion for investment decision. The main purpose of the study is to forecast the price of four metals using the ARIMA model and VAR model, and calculate the MAPE to compare a goodness-of-fit between the two models. The estimated results of the two models reveal statistical significance and are in keeping with economic theory. The results of MAPE for goodness-of-fit show that the VAR model is between 0.1 and 0.2, and the ARIMA model is between 0.4 and 0.6. That is, the VAR model is better than the ARIMA model in forecasting changes in the price of metals.

A Study on the Volatility Spillover Effect in International Non-Ferrous Metals Futures Price (국제 비철금속 선물가격의 변동성 전이효과에 관한 연구)

  • Guo-Dong Yang;Yin-Hua Li;Rui Ma
    • Korea Trade Review
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    • v.47 no.4
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    • pp.177-195
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    • 2022
  • This study analyzed the volatility spillover effect between international non-ferrous metal futures markets using the BEKK-GARCH model. Statistical data are futures price data of copper (CU), aluminum (AL), nickel (NI), tin (SN) from Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME) from April 1, 2015 to December 31, 2021. Combining the research results, first, in the case of copper, aluminum, and nickel, it was found that there was a two-way volatility spillover effect between the Shanghai and London markets, and the international influence of the London market was greater. Second, in the case of the tin, it was found that the Shanghai market has a volatility spillover effect on the London market from stage I, and it is strengthened in stage II. Third, in the case of nickel, it was found that there was a two-way volatility spillover effect in the first stage, but in the second stage, the London market had a unidirectional volatility spillover effect with respect to the Shanghai market. This study confirmed that China's influence in the international non-ferrous metal futures market is gradually increasing. In addition, it suggested that international investors can engage in arbitrage and hedging using China's non-ferrous metal futures market.

The Transition of Production, Consumption and Price of Non-ferrous Metals (비철금속(非鐵金屬)의 생산(生産), 소비(消費), 시세(時勢)의 추이(推移))

  • Moon, W.J.
    • Economic and Environmental Geology
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    • v.2 no.3
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    • pp.1-25
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    • 1969
  • In considering the mining industry, it is necessary to study the production, consumption and price of ore and metals in every country of the world in order to determine the trend of the industry in the present and for the future. This study is necessary especially for exporting domestically produced are which is in excess of domestic consumption and for importing are, or metal where local production does not meet domestic demand. It will be treated of Au, Ag, Cu, Pb, Zn, W, Mo, which are the most important non-ferrous metals, and which greatly affect the mining industry of Korea. The presentation will concern itself only with the free world. About 1, 200 ton of gold are produced annually with little fluctiation in recent years. Most of the gold produced is consumed by advanced countries for industrial uses as well as for producing precious objects. The U.S.A. expends yearly about four times its domestic production and Japan about three times its domestic production for industry and arts. Because of the instability of the currency of the U.S.A., England and France, recently, the price of gold has been $ 41-42 per ounce, whereas the official price is $35.00 per ounce. It will be expected that the official price will be raised in the near future. As for silver, about 6,500 tons are produced annually with no special fluctuation change in recent years. However, the annual consumption is about 14,000 ton, so the supply and demand is extremely unbalanced. The shortage is made up by the sale of the U.S. treasury's reserve stock and the reclaiminig of silver from coins and other scrap. As the Treasury'S reserves will be exhausted in a year or two, the price of silver which is $1. 64 per ounce, will go up drastically in about a year. As for copper, 5,257,000 ton's were mined in 1966. It's production is being increased about 5% annually. However, consumption exceeds production by about 100,000 ton a year. The recent Foreign refinery copper price in the U.S.A is $ 60 per pound. The supply of copper being insufficient to meet international demands, the price will go up and with no prospect of being lowered in the near future even with the slight annual increase in production. About 2,100,000 to 2,200,000 tons of lead are produced annually. Consumption exceeds production by about 50,000-60,000 tons annually. The current price of lead in New York is $ 155 per pound. As the supply of lead is internationally stable, It will be believed that there will be no significant change in its price in the near future. In 1967, 3,926,000 tons of Zinc were produced. There is annual increase of 4-7% in production. The annual consumption exceeds production by 100,000 to 200,000 tons. The current zinc price in the St. Louis market inthe U.S.A. is $ 145 per pound. Even though its supply is stable and sufficient world wide, the consumption rate will increase at a faster pace than before; hence, the price will slowly go up. Tungsten mines yield about 11,000 tons a year. Its production has been relatively constant in the past few years. The amount of its consumption increases slowly world wide, but in the free world· there has been a slight annual decrease. However, since Red China has not been exporting their tungsten to other countries for several months, the price on the London market of S.T.U. of $Wo_3$ has increased to $ 44~46. Should Red China begin to export actively again the price will drop to $ 40~42. In 1967, 56,000 tons of Molybdenum were produced. Production exceeds consumption by 200,000 -30,000 tons annually. The current price in the U.S.A. is $ 1.72 per Mo pound. Since the rate of production in the U.S.A. is on the increase with large amounts of ore reserve, the price of molubdenum should not go up.

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Evaluation on R&D Progress for Manganese Nodule Development and Its Prospects (심해저 망간단괴 개발사업의 국제기술 동향 분석 및 향후 개발 전망)

  • Park, Se-Hun;Park, Seong-Wook;Kang, Gil-Mo
    • Ocean and Polar Research
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    • v.27 no.4
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    • pp.477-490
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    • 2005
  • The development of manganese nodule mining technology is very important in order to secure a long-term and stable supply of rare strategic metals. In the twenty years following the R&D activities with the international consortia in the 1970s, studies on mining technologies have been carried out by several national projects in Korea. The current metal prices such as copper, nickel, cobalt, and manganese have been drastically changed since 2002. Rapid economic growth of Asian countries, especially China, have induced the situation. And the possibility of copper shortage is looming just around the comer. Because of the imbalance between production and consumption, copper is fundamentally the most threatened metal in the future in terms of potential metal shortage. Manganese nodules contain a considerable percentage of copper as the future metal resource. Therefore, it is necessary to concentrate our effects on developing these resources. This paper introduces our evaluation of R&D progress for the development of manganese nodules. The issue and role of manganese nodules during the difficult period of a potential future metal shortage period is discussed and its prospect outlined. Also, this paper tried to emphasize the necessity of continuous R&D efforts for the commercial development of such mineral resources.

Design and Fabrication of Micro Patterns on Flexible Copper Clad Laminate (FCCL) Using Imprinting Process (임프린트 공정을 이용한 연성동박적층필름(FCCL)의 마이크로 패턴 제작)

  • Min, Chul Hong;Kim, Tae Seon
    • Journal of the Korean Institute of Electrical and Electronic Material Engineers
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    • v.28 no.12
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    • pp.771-775
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    • 2015
  • In this paper, we designed and fabricated low cost imprinting process for micro patterning on FCCL (flexible copper clad laminate). Compared to conventional imprinting process, developed fabrication method processing imprint and UV photolithography step simultaneously and it does not require resin etch process and it can also reduce the fabrication cost and processing time. Based on proposed method, patterns with $10{\mu}m$ linewidth are fabricated on $180mm{\times}180mm$ FCCL. Compared to conventional methods using LDI (laser direct imaging) equipment that showed minimum line with $10{\sim}20{\mu}m$, proposed method shows comparable pattern resolution with very competitive price and shorter processing time. In terms of mass production, it can be applied to fabrication of large-area low cost applications including FPCB.

Evaluate the expected price of HTS transformer for introducing into korean power system (초전도변압기의 계통적용을 위한 예상 시장진입가격 추정)

  • Kim, Jong-Yul;Lee, Seung-Ryul;Yoon, Jae-Young
    • Proceedings of the KIEE Conference
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    • 2004.11b
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    • pp.176-178
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    • 2004
  • HTS (High Temperature Superconducting) Transformer has the several useful characteristics in the viewpoints of technical and economical. Especially, an HTS transformer replaces the copper wire coils in a conventional transformer with lower loss HTS wire In addition, inexpensive, environmentally benign liquid nitrogen replaces the conventional oil as the electrical insulation (dielectric) and provides the necessary cooling for the HTS transformer Therefore, the Life-cycle cost of an HTS transformer is much more attractive than conventional because it is more energy efficient, lighter in weight, smaller in size, and environmentally compliant. HTS transformer can be the best way to replace with conventional transformer in the future. In this paper, we investigate the expected price of HTS transformer to have a merit in viewpoint of economic aspect. First, life-cycle cost of conventional transformer is calculated and based on this, the expected price of HTS transformer is evaluated, which HTS transformer is competitive against conventional transformer.

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