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ESG Economist - Impact of the Iran conflict on transition commodities

The Iran conflict is having a major impact on commodity markets. With the outbreak of the war and Iran’s attacks on neighbouring countries’ oil and gas facilities, prices for energy commodities have soared. Such a sharp price reaction in other commodity markets (particularly metals) was initially absent, as the impact of the Middle East conflict on many non-fossil commodities did not immediately lead to widespread panic. It is now almost four weeks on, and many non-fossil commodities are beginning to show their true colours. In this analysis, we take a closer look at the trend in the transition metals index and which specific transition metals have been most affected since the start of the war. We also present the price index for defence metals and how this differs from the trend in the price of transition metals. With this analysis, we provide insight into the various price trends and indicate how this may impact the business sector.

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