The markets for base metals have changed remarkably in the last few years. A long period of extremely low prices was followed by a sustained price boom in 1987-89 - which continued into 1990 for copper, nickel, lead, and zinc. The author examines the causes of the price boom in terms of market fundamentals. Because of the importance of supply disturbances and low stocks, the reduced-form price equation specification was extended to incorporate supply-side...
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INFORMATION
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1990/11/30
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Document de travail de recherche sur les politiques
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WPS542
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1
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1
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2010/07/01
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The metals price boom of 1987-89 : the role of supply disruptions and stock changes
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metal price
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