Assessment of the dynamics of steel production by countries of the world based on their grouping
Abstract
Steel productionhas come to play a major role in the modern economy. Steel is a resource that is fundamental to the functioning of any nation. This is a basis of the dynamics of the development of the steel industry in various countries of the world on the basis of grouping. The methodology includes analysis of financial indicators, statistical methods (logarithm, standardization, cluster analysis), as well as the use of Dunn Index method to select the number of clusters. The purpose of the work is to conduct a cluster analysis of steel producing countries and identify steel production trends in these countries from 2016 to 2023. The results of groupings carried out using cluster analysis based on the results of producing countries starting in 2023 allow us to obtain five groups with different characteristics. Based on an assessment of the dynamic change in the position of steel-producing countries within the groups obtained during the cluster analysis, the study makes a forecast of their further movement from group to group.
About the Author
L. D. Savenkov
Togliatty State University
Russian Federation
Russian Federation
Leonid D. Savenkov – Candidate of Economic Sciences, Associate Professor of the Institute of Finance, Economics and Management of Togliatti State University.
Togliatty
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Review
For citations:
Savenkov L.D. Assessment of the dynamics of steel production by countries of the world based on their grouping. Vestnik of Samara State University of Economics. 2024;(10):17-27. (In Russ.)
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