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World Copper Market : Structure and Econometric Model : Lecture Notes in Economic and Mathematical Systems - Gerhard Wagenhals

World Copper Market : Structure and Econometric Model

Lecture Notes in Economic and Mathematical Systems

Paperback ISBN: 9783540138600
Number Of Pages: 194

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1.1 The Importance of Copper Copper, the red metal, has been known in histor~ for thousands of ~ears. It ma~ have been mankind's first metal (Joralemon= 1973). And still, probabl~ more than one hundred decades after native copper was used for the first time (Muhl~ (1973: 171", toda~, copper is a ver~ important commodit~: 1. Onl~ aluminum (first in 1963) surpasses refined copper in terms of the total 1 world's mine production and consumption. It outpaces zinc, lead, nickel and tin * 2. Refined copper is one of the most important export products of the developing countries. In 1975, refined copper ranked 8th in the developing countries' export values in general, it was 6th among their non-fuel exports, and their most important export 2 commodit~ among the non-ferrous metals * 3. Man~ small and medium sized industrialized countries depend heavil~ on copper imports. For example, West German~'s share in world mine production has alwa~s been smaller than 0.1 per cent. In the last few decades, however, the Federal Republic's consumption share has amounted to some 8 i. in 1982. 4. Copper is of utmost importance for the export earnings of several countries.

1 Introduction.- 1.1 The Importance of Copper.- 1.2 Objectives and Overview.- 1.3 Notes.- I: Structure of the World Copper Market.- 2 Production.- 2.1 Metallurgical Background.- 2.2 Mine Production.- 2.3 Mine Production Capacities.- 2.4 Smelter and Refined Production.- 2.5 Scrap.- 2.6 Notes.- 3 Consumption.- 3.1 Basic Facts.- 3.2 Copper Consumption.- 3.3 Substitution.- 3.4 Notes.- 4 Trade and Prices.- 4.1 Trade.- 4.2 The Council of Copper Exporting Countries.- 4.3 Prices.- 4.4 Conclusions.- 4.5 Notes.- 5 Reserves and Resources.- 5.1 Copper Deposits.- 5.2 Perspectives of Copper Availability.- 5.3 Implications.- 5.4 Notes.- II: Econometric Model of the World Copper Market.- 6 Copper Market Models.- 6.1 Econometric Models.- 6.2 Other Copper Industry Models.- 6.3 A New Econometric Model.- 6.4 Notes.- 7 Mine Production and Capacities.- 7.1 Overview.- 7.2 Primary Supply: Theory.- 7.3 Primary Supply: Estimation.- 7.4 Mine Production Capacity: Theory.- 7.5 Mine Production Capacity: Estimation.- 7.6 Notes.- 8 Demand.- 8.1 Overview.- 8.2 Consumption: Theory.- 8.3 Consumption: Estimation.- 8.4 Demand for Storage: Theory.- 8.5 Demand for Storage: Estimation.- 8.6 Notes.- 9 Other Equations.- 9.1 Overview.- 9.2 Secondary Supply.- 9.3 Prices.- 9.4 Closing the Model.- 10 Historical Dynamic Solution and Sensitivity Analysis.- 10.1 Overview.- 10.2 Historical Dynamic Simulation.- 10.3 Multiplier Simulation Experiments.- 10.4 Concluding Remarks.- 10.5 Notes.- Appendices and Bibliography.- Appendix I General Remarks on Methodology and Data.- Appendix II List of Variables.- Appendix III Estimated Equations.

ISBN: 9783540138600
ISBN-10: 3540138609
Series: Lecture Notes in Economic and Mathematical Systems
Audience: General
Format: Paperback
Language: English
Number Of Pages: 194
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 24.41 x 16.99  x 1.14
Weight (kg): 0.35