Abstract
By cointegration analysis, we find that the prices of Chinese steel and iron ore have long-term stable relation with international prices. Granger test shows that the prices of steel and iron ore are not reinforce each other, there is only one way of China on global prices of causality. Thorough VAR model, the Chinese domestic steel market fluctuations are mainly effected by the prices of early steel and it also shows that the main cause of iron ore price fluctuations in China is on a domestic iron ore price volatility.
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