Research on influencing factors of coal price based on improved principal component analysis and grey correlation method

Abstract

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.