Dependence of transition minerals on global clean energy and technology stocks

Using both cross-quantilograms and Granger-causality in-mean and in-quantiles techniques, this paper investigates the dynamic dependence of transition minerals on global clean energy and technology markets for the period from December 28, 2018 to October 4, 2024. The results reveal asymmetric responses of transition minerals to changes in the global clean energy and technology markets, with a notably stronger and more consistent positive linkage to the global technology market. Transition minerals such as aluminum, cobalt, copper, and zinc tend to move in tandem with technology market returns, underscoring their strategic role in tech-driven growth. Interestingly, we found more compelling evidence of Granger causality from the clean energy market to transition minerals across several market states than we found from the technology market. For investors and commodity traders, these results suggest a forward-looking informational edge in the use of clean energy market signals to anticipate price movements in specific mineral markets, particularly in hedging or timing strategies. For policymakers, especially in mineral-rich economies, the results also highlight the importance of tracking global clean energy demand trends as early shock signal in the transition mineral market.