Open AccessResearch on influencing factors of coal price based on improved principal component analysis and grey correlation method
Author(s) -
Zhaobin Duan,
Yanjun Meng
Publication year - 2020
Publication title -
journal of physics. conference series
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.21
H-Index - 85
eISSN - 1742-6596
pISSN - 1742-6588
DOI - 10.1088/1742-6596/1651/1/012036
Subject(s) - coal , principal component analysis , consumption (sociology) , china , coal mining , environmental economics , production (economics) , energy value of coal , economics , environmental science , natural resource economics , industrial organization , agricultural economics , microeconomics , engineering , waste management , mathematics , statistics , coal combustion products , geography , social science , archaeology , sociology
As an important basic energy in China, the price fluctuation of coal is related to the operation of China’s coal market and the whole energy market and coal price analysis has always been the focus of the industry. By establishing an improved principal component-grey correlation analysis (PCA-GRA) model, the influencing factors of coal price were analyzed and tested one by one, and the influence degree of the influencing factors such as total coal production, total coal consumption, coal import and export volume, and world coal price on China’s coal price was studied. The results show that coal price fluctuation is greatly influenced by coal energy storage level and market environment level. In order to promote the development of coal industry, some suggestions are put forward.