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Using the U.S. Bureau of Mines minerals availability system for supply-demand analysis.
Mater Soc 1982 Jan; 6(4):471-482
In recent years numerous attempts have been made to model nonfuel minerals markets and forecast trends in price, demand, supply, import reliance, etc. On the supply side, econometric models based on historical data were constructed with less than satisfactory results. Such models and their estimates of the future primary supply of nonfuel minerals may be more accurate if the physical characteristics of the known deposits are evaluated using standardized engineering-cost methodology. The minerals availability system (mas) of the U.S. Bureau of Mines transforms this type of deposit information into estimates of potential nonfuel minerals production. Mas estimates potential production from domestic and foreign deposits; this will be done for 34 commodities. This paper shows how mas can be used in partial equilibrium analysis of the copper market. In particular, a domestic primary supply function is developed based on mas data; this and other models are then used to predict equilibrium price and quantity under various assumptions.
OP; Journal Article
Issue of Publication
Materials and Society
Page last reviewed: September 2, 2020
Content source: National Institute for Occupational Safety and Health Education and Information Division