Wolfe Research's Tanners Breaks Down the Rally in Metals

The video discusses the impact of the Russia-Ukraine conflict on global commodity markets, focusing on raw materials like pig iron and aluminum. It highlights the challenges of substituting these materials and the potential consequences of a US ban on Russian imports. The financialization of commodities and its effect on pricing are explored, along with China's role in the global metal market. The discussion also covers potential technological advances and future alternatives to current raw material dependencies.

How has the financialization of the commodities market affected pricing and supply?

What long-term technological changes might occur in response to the current commodity crisis?

What factors contribute to the difficulty of restarting production facilities after a shutdown?