The purpose of this work is to identify variables
that are relevant to the copper price setting in the international market. Thus
statistical hypothesis tests and statistical tools that help to identify
historical relevance and to measure the intensity of the impact of each
variable on the copper price on several time horizons were applied. At the end,
a regression model that aims to assess the combined effect of the considered
time series was estimated. The global industrial production and the aluminum
price showed the greatest evidences of being relevant to the copper price. The
results suggest that copper stocks, foreign exchange rates and crude oil price
should also be considered.
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