The analysis of molybdenum concentrate energy price based on Grey-Markov model

Molybdenum concentrate energy price is the key factor in determining the economic efficiency of molybdenum enterprises. Forecasting the price of molybdenum concentrate has a great significance for the development of molybdenum enterprises. In order to make a scientifically accurate prediction about the Molybdenum price, we make some analysis on the basis of historical price data Chinese molybdenum concentrate and combine with the GM (1,1) model and Markov theory. It adopts a new model absorbing the respective advantages of GM (1,1) model and Markov theory which are complemented and created Grey - Markov model. The established models were carried out with software MATLAB and predicted the 2014 average annual price of molybdenum. The experiment results indict that the Grey - Markov model can take full use of the quantitative prediction and have a strong scientific and practical application. Its scientific predictions about the Molybdenum concentrate energy price can help molybdenum enterprises to make more correct decisions and more comprehensive grasp of the molybdenum market. © Sila Science. All Rights Reserved.