Quantifying the Impact of the COVID-19 Pandemic on Copper Price Trends Using Time Series Analysis

This paper explores the complex correlation between the COVID-19 epidemic and the price fluctuations of copper, an essential metal in multiple industries. The research seeks to analyze patterns and changes in copper pricing over a ten-year period using advanced time series analysis techniques. Historical data forms the basis for predicting the prices of copper. It allows for a comparison between pre-pandemic projections made using the ARIMA Model and the actual data observed after the pandemic. Such an evaluation allows for a nuanced understanding of the impact of this global health crisis on the copper market. By scrutinizing the discrepancies between projected and actual data, the study sheds light on the resilience and adaptability of the copper industry in the face of significant external disruptions. This deeper understanding not only contributes to the knowledge base surrounding the economics of copper but also provides insights into the broader capacity of industries to withstand and respond to unforeseen challenges. Acquiring a more profound comprehension of this subject not only enhances the existing information about the economics of copper, but also offers valuable insights into the overall ability of industries to endure and react to unexpected obstacles.