Extreme Connectedness among Energy Transition Metals and Commodity Markets

Andrea Bastianin, Chiara Casoli, Evžen Kočenda and Xiao Li

No 396404, FEEM Working Papers from Fondazione Eni Enrico Mattei (FEEM)

Abstract: The global energy transition is reshaping commodity demand, yet its implications for commodity risk transmission remain unclear. We analyze connectedness among Energy Transition Metals (ETMs) – a subset of metals that are key inputs in clean energy technologies – energy commodities, and industrial metals using a Quantile Factor VAR framework. We document strong state dependence: spillovers are substantially larger in the tails of the return distribution than at the median. While crude oil remains influential, its dominance weakens post-Covid as ETMs, particularly base ETMs, gain centrality. A complementary event-study shows ETM-related policy announcements amplify spillovers in extreme regimes, indicating structural reconfiguration and systemic implications.

Keywords: Environmental Economics and Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 33
Date: 2026-04-03
New Economics Papers: this item is included in nep-ene, nep-env and nep-min
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https://ageconsearch.umn.edu/record/396404/files/NDL2026-13.pdf (application/pdf)

Related works:
Working Paper: Extreme Connectedness among Energy Transition Metals and Commodity Markets (2026)
Working Paper: Extreme Connectedness among Energy Transition Metals and Commodity Markets (2026)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:feemwp:396404

DOI: 10.22004/ag.econ.396404

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