Research on the price linkage of China’s mineral resources from the perspective of the industrial chain

Mineral resources are the foundation of development and the key to production, and their important position in the industrial chain is self-evident. The mineral resource-based industry not only ensures the supply of mineral products and basic raw materials but also plays a crucial supporting role in the development of the national economy. Among them, fluctuations in mineral resource prices directly affect other industrial sectors in China through the upstream and downstream of the industrial chain. Studying the impact of mineral resource price fluctuations on other industries in the industrial chain is of great significance for maintaining the security and stability of the industrial chain and constructing a price fluctuation monitoring and early warning platform. Based on the input-output price model, this paper constructs single and multiple price linkage impact models to study the evolution of the impact of single and multiple mineral resource price fluctuations on the prices of other industries in China from 2001 to 2020. The research findings indicate: ① mineral resource price fluctuations have a greater impact on the secondary and tertiary industries, while the primary industry is the least affected. The extent of the impact of price fluctuations of different mineral resource varieties on other industries also varies. The most affected by price fluctuations in mining and quarrying （energy product production） are coke and refined petroleum products; the most affected by price fluctuations in mining and quarrying （non-energy product production） are basic metals; the most affected by price fluctuations in mining support services is mining and quarrying （energy product production）; the most affected by price fluctuations in coke and refined petroleum products is water transport; the most affected by price fluctuations in other non-metallic mineral products is the construction industry; the most affected by price fluctuations in basic metals is metal products. ② The price of mining and quarrying （energy product production） has the greatest impact on the prices of other industries, followed by the price of basic metals, while the price of mining support services has the least impact on the prices of other industries. ③ Industrial price fluctuations are closely related to the supply and demand relationship structure between the upstream and downstream of the industrial chain, primarily depending on their position in the industrial chain and product attributes. The research results of this paper provide reference value for constructing dynamic monitoring and early warning system for mineral resource prices and maintaining the security and stability of China’s mineral industrial chain.