Learn how to predict Copper Price using a simulation
#Copper #Forecasting #macroeconomics
Copper LME is global benchmark for copper prices. Copper Price is affected by various macro economic factors like Mine production, Copper Demand, Refined Copper production, Currency fluctuations, US #federalreserve rate, US Inflation rate, Ocean freight (Baltic Index), etc.
In this video, we have explained how various macro economic factors impact #copperprice and how to simulate price of copper considering macro economic factors.
Few of our old videos below help you to understand the concepts explained in this video,
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Commodity price forecasting is one of important things for many commodity buyers. Copper is one of the primary metal which is consumed in many industries like automobile, construction, consumer durables, telecommunications, etc. Copper price analysis involves Copper and macro economic factors effects need to studied for better predictions.
This video shows how to simulate the price of copper with Excel / #spreadsheet without the need of any data analytics programming requirements like Python / R.
00:00 Brief on Copper and Macro Economic factors
02:28 Copper Price Simulation Data Requirements
05:30 Correlation Analysis
09:49 Copper Price Simulation Model Building
15:40 Copper Price Simulation / Copper Price Forecasting
19:43 Model Validation
22:23 Simulated Copper Price Range
24:39 Conclusion
Copper price prediction can be simulated by any one after watching this video… Macro economic factors impact on copper prices is explained with the use of simulation in Excel.
Reason for why copper price is falling and why copper prices are rising is explained with help of simulated values of macro economic factors…Copper price forecast will look simple after watching this video…
Data Source :
1. LME Copper Cash-Settlement - https://www.lme.com/
2. Fed Rate - https://www.federalreserve.gov/moneta...
3. Brent Crude - https://in.investing.com/
4. Coking Coal - https://in.investing.com/
5. USD/CNY - https://in.investing.com/
6. USD/CLP - https://in.investing.com/
7. EUR/USD - https://in.investing.com/
8. US Inflation Rate - https://www.usinflationcalculator.com...
9. Mine Production - https://icsg.org
10. Refined Metal Production - https://icsg.org
11. Global Demand - https://icsg.org
12. Baltic Dry Index - https://in.investing.com/
13. Natural Gas - https://in.investing.com/
If you have any queries, please mention it in comment section...
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