Quantitative Analysis of Factors Affecting Coal Price

A verification model of coal price (VEC) is established by using cointegration analysis method in this article, and an empirical study is carried on the corresponding statistics from the year 1985 to 2008. It shows that the main factors affecting coal prices are the output value of industry, GNP, retail price index, coal cost and coal supply. Considering the factors, the proposed verification model can predict the actual value of coal price with high forecast accuracy and explain the changes in coal prices, at the same time, the comprehensive short and long term relationship of these variables and coal prices is better than that of the long-term relationship. The model illustrates the factors' affection on the impact of coal price based on quantitative analysis, which will offer certain references for macro-control department and coal enterprises.