# Heat pumps, air conditioning and refrigeration and Steel

Their prices have moved together.

Source page: https://www.materialinsights.org/links/heat-pumps-air-conditioning-and-refrigeration-and-steel/

[Heat pumps, air conditioning and refrigeration](https://www.materialinsights.org/energy/e_heat_pumps/) (energy) and [Steel](https://www.materialinsights.org/commodities/steel/) (commodity): 1 relationship.

## How they are linked

### 1. Price link: cabinets and parts

*Cost and price · Moderate · Both ways*

Outer cases, compressor shells and frames are steel. Yearly moves correlate at 0.34 with the steel index, a modest link, since steel is one of several inputs and price changes reach finished equipment slowly.

- **0.17** monthly change correlation
- **0.34** 12-month change correlation
- **0.72** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.