Statistical Analysis of the Impact of Macroeconomic Factors on Global Steel Production

This article presents a statistical analysis of the influence of macroeconomic factors on global steel production, conducted using Granger causality tests and time series analysis to determine the presence of stable economic relationships. The study’s findings demonstrate that, despite the existing correlation between steel production and macroeconomic variables, there is no statistically significant causal relationship between these indicators in the long term. The study confirms the hypothesis of a declining role of raw materials industries in economic growth in the context of globalization and the transition to a post-industrial economy. The article concludes that it is necessary to revise approaches to analyzing the relationship between traditional and new economic sectors in a rapidly changing global economy. The results of the Granger causality test and stationarity analysis indicate that there is no significant causal relationship between steel production volume and the shares of imports and exports of ores and metals.