Impact of Baltic Dry index on critical metal prices: Implications for renewable energy supply chains
Küçük Resim Yok
Tarih
2025
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier Sci Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study investigates the dynamic relationship between the Baltic Dry Index (BDI) and the prices of metals essential to renewable energy technologies, such as copper, nickel, and cobalt. Using daily data from 2015 to 2024, we employ wavelet coherence and a TVP-VAR-based connectedness decomposition to uncover timevarying, directional, and frequency-sensitive linkages between maritime transport costs and clean energy metal markets. Our findings show that shipping costs are not merely passive reflections of market conditions but active components shaping price fluctuations-particularly during global disruptions like the COVID-19 pandemic. Copper and zinc exhibit strong comovement with freight rates, while nickel and cobalt display evolving interaction patterns over time. These results underscore the systemic role of maritime logistics in renewable energy supply chains and highlight freight rate shocks as a potential vulnerability for mineral cost stability. We argue about integrating transport risk into mineral sourcing strategies and energy transition planning.
Açıklama
Anahtar Kelimeler
Baltic dry index, Renewable energy metals, Maritime logistics, Wavelet coherence, Supply chain vulnerability
Kaynak
Journal of Cleaner Production
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
523
