Prediction of Ferrous Scrap Price: Neural Network Model Application

摘要

Today, scrap prices are one of the key factors not only for the stage of production planning, but also for the market analysis. The problem of the scrap prices forecasting in the metallurgical industry is particularly acute. In this article, the authors use a neural network approach to build a model that allows solving this problem. The obtained results show that proposed model provides the forecasting of the future ferrous scrap price fluctuations with high enough accuracy.