Recently, the mineral resource protection policies and regulations in production countries of natural resources including rare metals are becoming more stringent. Such environment makes which market has malfunction. In other word, those are not perfect or pure market. Therefore because each market of natural resources have special or unique characters, it is difficult to forecast their market prices. In this study, we constructed several models to estimate prices of natural resources using ARIMA and their business indices. And for examples, Indium and Coal were introduced.

• J. H. Cho(School of IE, Kumoh Nat’l Institute of Technology) | 조진형
• Sae jae Lee(School of IE, Kumoh Nat’l Institute of Technology) | 이세재
• H. S. Oh(Dept. of IME, Hannam University) | 오현승