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The Future of Commodities
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The Future of Commodities

A special issue of Commodities (ISSN 2813-2432).

Deadline for manuscript submissions: closed (31 October 2024) | Viewed by 6804

Special Issue Editor

Prof. Dr. Julien Chevallier

E-Mail Website
Guest Editor
Laboratoire d'Économie Dionysien (LED), University Paris, 93526 Saint-Denis, France
Interests: empirical finance; computational econometrics; commodities
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

During the last few years, we have faced some profound and rapid changes in commodities markets that are also believed to persist in the next few decades. The aim is to encourage sustainability, decarbonization, and digitization of the sector, which will cause a rapid increase in the demand for a large number of commodities in the future. These include copper, aluminum, green steel, nickel, tin, cobalt, lithium, metal scrap and rare earths.

Taking into consideration the fact that the commodity supply and demand sector is fundamentally changing as a result of the energy and material transition, academic research in these areas is also rapidly developing. To facilitate dissemination of this research, a Special Issue of Commodities aims to bring together a collection of high-quality papers that offer original contributions to the knowledge on a wide range of topics regarding new insights into commodities markets under transition. The Editors particularly welcome articles that deal with time series and empirical finance applications in any field of commodities.

Dr. Julien Chevallier
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Commodities is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1000 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • oil
  • gas
  • cryptocurrencies
  • metals
  • grains
  • softs
  • industrial metals
  • precious metals
  • time series
  • empirical finance

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (4 papers)

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Editorial

Jump to: Research

1 pages, 173 KiB  
Editorial
The Future of Commodities
by Julien Chevallier
Commodities 2023, 2(2), 168; https://doi.org/10.3390/commodities2020010 - 31 May 2023
Viewed by 1616
Abstract
Asset markets have long contained a section devoted to commodities, breaking them into «soft», «grains», «metals», «energy», etc [...] Full article
(This article belongs to the Special Issue The Future of Commodities)

Research

Jump to: Editorial

14 pages, 1130 KiB  
Article
Causality Between Brent and West Texas Intermediate: The Effects of COVID-19 Pandemic and Russia–Ukraine War
by Salim Lahmiri
Commodities 2025, 4(1), 2; https://doi.org/10.3390/commodities4010002 - 28 Feb 2025
Viewed by 481
Abstract
The article analyzes the Granger-based causal relationship between two major crude oil markets, namely Brent and West Texas Intermediate (WTI), by using the standard vector autoregression (VAR) framework. In this regard, the effects of the COVID-19 pandemic and the Russia–Ukraine war on causality [...] Read more.
The article analyzes the Granger-based causal relationship between two major crude oil markets, namely Brent and West Texas Intermediate (WTI), by using the standard vector autoregression (VAR) framework. In this regard, the effects of the COVID-19 pandemic and the Russia–Ukraine war on causality between Brent and WTI are examined. The empirical results from Granger-causality tests show (a) strong causality from Brent to WTI during the period prior to the COVID-19 pandemic and Russia–Ukraine war, (b) no causality from WTI to Brent during the period prior to the COVID-19 pandemic and Russia–Ukraine war, (c) no causality from Brent to WTI during the COVID-19 pandemic, (d) evidence of causality from WTI to Brent during the COVID-19 pandemic, and (e) no evidence of causality from both markets during the period of Russia–Ukraine war. In addition, causality tests in quantiles support results from the linear Granger causality tests in general. However, contrary to the standard linear causality test, the quantile-in-regression causality test shows that Brent returns cause WTI returns during the pandemic period and WTI returns cause Brent returns before the pandemic. Furthermore, the results from the time-varying Granger causality tests support all conclusions from the standard linear (and static) Granger causality test, except the hypothesis that Brent causes WTI during the pandemic. Moreover, the time-varying Granger tests show evidence that causality between Brent and WTI clearly varies across the pandemic and war periods. Revealing the causalities between Brent and WTI across periods of economic and political stability, pandemic, and war would help policymakers develop appropriate energy policy and help investors determine appropriate risk management actions. Full article
(This article belongs to the Special Issue The Future of Commodities)
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18 pages, 339 KiB  
Article
Effects of Energy Consumption, Agricultural Trade, and Productivity on Carbon Emissions in Nigeria: A Quantile Regression Approach
by Prosper E. Edoja, Goodness C. Aye and Rangan Gupta
Commodities 2024, 3(4), 494-511; https://doi.org/10.3390/commodities3040028 - 23 Dec 2024
Viewed by 950
Abstract
The focus of this investigation was to examine the effects of energy consumption, agricultural commerce, and productivity on CO2 emissions in Nigeria using quantile regression. Time series data from 1960 to 2021 were used. The findings revealed that the impact of agricultural [...] Read more.
The focus of this investigation was to examine the effects of energy consumption, agricultural commerce, and productivity on CO2 emissions in Nigeria using quantile regression. Time series data from 1960 to 2021 were used. The findings revealed that the impact of agricultural raw materials imports (AGRIMs) and exports on carbon footprints is positive. There is a prevalence of a set of notable percentile differences in the conditional distribution of the variables on CO2 emissions. Initially, the coefficient of energy consumption (EnCons) was high, but constantly nosedived from the 25th quantile until it reached the 90th quantile when it picked up again, and the same was true in the case of AGRIM. Thus, a 1% increase in agricultural imports will bring about 0.0047—a significant unit increase in CO2 emissions in Nigeria from the 0.382946 coefficient in the 10th quantile to the 0.264392 coefficient in the 50th quantile, and thereafter, the effects become insignificant. Profound significant variance across disparate percentiles in the conditional spread of AGRIM, food production index (FPI), CPI, and FDI was found. It further showed that the effects of the regressors on carbon emissions differ over the quantiles. Overall, AGRIM and EnCons have positive and significant effects on carbon emission. However, the agricultural raw material export has significant negative effects on CO2 emissions as the movement (transportation) of goods within a country prior to export involves a huge level of carbon release. This study provides recommendations and policy implications. Full article
(This article belongs to the Special Issue The Future of Commodities)
29 pages, 452 KiB  
Article
An Econometric and Time Series Analysis of the USTC Depeg’s Impact on the LUNA Classic Price Crash During Spring 2022’s Crypto Market Turmoil
by Papa Ousseynou Diop
Commodities 2024, 3(4), 431-459; https://doi.org/10.3390/commodities3040024 - 1 Dec 2024
Viewed by 1338
Abstract
The cryptocurrency market is characterized by extreme volatility, with events such as the Terra-LUNA crash of 2022 raising significant questions about the resilience of algorithmic stablecoins. This paper investigates the collapse of LUNA Classic during the USTC depeg, focusing on the role of [...] Read more.
The cryptocurrency market is characterized by extreme volatility, with events such as the Terra-LUNA crash of 2022 raising significant questions about the resilience of algorithmic stablecoins. This paper investigates the collapse of LUNA Classic during the USTC depeg, focusing on the role of trading volumes and collateral assets like Bitcoin in amplifying the price crash. Using a Vector Logistic Smooth Transition AutoRegressive (VLSTAR) model, we analyze daily data from October 2020 to November 2022 to uncover how exogenous volumes influenced LUNA’s price trajectory during the crisis. Our findings reveal that high trading volumes, particularly during regime two (the post-depeg period), significantly exacerbated the price decline, validating the impact of large-scale liquidations on LUNA’s price path. Additionally, Bitcoin volumes played a critical role in destabilizing the system, confirming that the liquidity of underlying collateral assets is pivotal in maintaining price stability. These insights contribute to understanding the systemic vulnerabilities in algorithmic stablecoins and offer implications for future stablecoin design and risk management strategies. They are relevant for investors, policymakers, and researchers seeking to be aware of market volatility and prevent future crises in stablecoin ecosystems. Full article
(This article belongs to the Special Issue The Future of Commodities)
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