Leading indicators identified with Indicio
Forecasted variable: Hot Rolled Steel Bars, Plates, and Structural Shapes
| Indicator | Relevance |
|---|---|
| Crude Oil Prices: WTI, Cushing, Oklahoma | ★★★ |
| Producer Price Index: Carbon Steel Scrap | ★★★ |
| China, Steel Index (Shcnsi) | ★★★ |
| LME-Copper Hamburg Warehouse Stocks | ★★★ |
| US Manufacturers Inventories, Durable Goods, Iron and Steel Mills, Current Prices, USD | ★★ |
| Chinese Yuan Renminbi to U.S. Dollar Spot Exchange Rate | ★★ |
| Hot Rolled Plate / Coil Shcpi | ★★ |
| Industrial Production: Total Index, SA | ★ |
| United States, Pending Home Sales, AR, SA, Index | ★ |
| Google trends: tata steel price | ★ |
| New Privately-Owned Housing Units Started: Total Units, SAAR | ★ |
| LME-Aluminium Baltimore Warehouse | – |
| LME-North American Special Aluminium Alloy Baltimore Warehouse Stocks | – |
| LME-Aluminium Bilbao Warehouse Stocks | – |
| Georgia, Exports, Commodities, Aluminium Waste and Scrap, USD | – |
| LME-Aluminium Alloy Genoa Warehouse | – |
Indicio captures the group effect of the leading indicators; the relevance ranking of each indicator changes over time.
Indicio captures the group effect of the leading indicators. The relevance ranking of each indicator changes over time.
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Crude Oil Prices: WTI, Cushing, Oklahoma
Crude oil is a key input in steel production, especially for pipes and tubes. Its price changes affect energy and transportation costs, which are major components of production costs.
Producer Price Index: Carbon Steel Scrap
Carbon steel scrap prices feed directly into manufacturers' production costs. Rising scrap prices can raise steel prices.
China, Steel Index (Shcnsi)
China is the largest producer and consumer of steel, so its market trends significantly influence global steel prices.
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