Price Fluctuation Risk Spillover Effects of the Iron Ore Industry Chain Under Multiple Time Scales

As the core raw material for steel production, the stability of the iron ore industry chain is directly related to the healthy development of the steel industry. However, existing research has mostly focused on the original time scale or individual commodities, ignoring the risk transmission between multi-timescale and upstream and downstream of the industry chain, which has increased the difficulty of iron ore price risk prevention and control. This study systematically analyzes the price fluctuation risk spillover effects of the iron ore from the multi-timescale and industry chain perspectives. The study found that: in the original time scale, there is a significant price fluctuation risk spillover effects within the iron ore industry chain, and the risk spillover effect of price fluctuations in the iron ore industry chain is significantly exacerbated by the COVID-19; in other different time scales, there are distinctions in the intensity and direction of the price fluctuation risk spillover effects of commodities, and with the increase of time scale, the dynamic total spillover effects of the iron ore industry chain are significantly enhanced. Based on this, we should enhance the stability of the iron ore market and the resilience of the industrial chain; build a multi-time scale risk identification and response mechanism; and focus on risk prevention and control of key commodities.