Original scientific paper

https://doi.org/10.20532/cit.2021.1005190

Prediction of Spot Price of Iron Ore Based on PSR-WA-LSSVM Combined Model

Xiangjun Cai orcid.org/0000-0001-9756-7326 ; Zhejiang college of Security Technology, Wenzhou, China
Shihua Luo ; School of Statistics Jiangxi University of Finance and Economics, Nanchang, China

Abstract

Aiming at the problems that the existing single time series models are not accurate and robust enough when it comes to forecasting the iron ore prices and the parameters of the traditional LSSVM model are difficult to determine, we propose a combined model based on Phase Space Reconstruction (PSR), wavelet transform and LSSVM (PSR-WA-LSSVM) to tackle these issues. ARIMA model, LSTM model, PSR-LSSVM model, and PSR-WA-LSSVM models were used for contrast simulation to forecast the spot price data of 61.5%PB powder from January 30, 2019, to February 1, 2021, in Ningbo Zhoushan port. The experimental results show that the PSR-WA-LSSVM combination model achieves better prediction results. At the same time, the model has a good performance in the multistep prediction of the iron ore price.

Keywords

Iron ore spot price, Price projection, Combination model

Hrčak ID:

274352

URI

https://hrcak.srce.hr/274352

Publication date:

21.3.2022.

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