Abstract: The article aims to identify the development of the prices of steel, copper, silver and gold used in the circular economy. The monitored period is 2009-2023. For clarity, the monthly price development on world stock exchanges is used. The time horizon 2009-2023 is divided into three described periods. The economic crisis of 2009-2010, the COVID-19 pandemic in 2020-2021 and the Russian invasion of Ukraine in 2022-2023. The average price and mean for each metal in the observed period are always used for better clarity. During this time, the price of copper, gold and silver rose, while the price of steel tended to fall. Gold and silver rise because they are seen as a haven for investment, so their price rises in times of uncertainty. Furthermore, there is an increase in the demand for electronics, which increases the price of copper even during crisis periods. Adverse effects on the economy mainly cause a drop in the price of steel, as its consumption has mostly stayed the same in recent years. The prices of selected metals are essential because they influence the prices of goods, and we can also observe the current development of the world economy on them.
Authors: Jiří Kučera, Radim Štrouf, Martin Vácha
Keywords: Economic crisis, COVID-19 pandemic, Russia-Ukraine conflict, price developments, metal commodities