The mega-merger between two mining titans is gaining momentum again. Rio Tinto and Glencore are back at the negotiating table, and this time there's a new variable in the mix: copper just hit record highs.

So what's changed? For one, commodity prices are telling a story. With copper surging to unprecedented levels, the strategic calculus around consolidation in the mining sector has shifted. When raw materials command premium valuations, major players start reconsidering their competitive positioning.

But here's the catch—can this deal actually happen? There are regulatory hurdles, market timing issues, and the sheer complexity of merging two industrial giants. Some see it as an inevitable play in the sector; others question whether the deal can overcome the obstacles it faced before.

The broader take: movements in commodity markets like this one ripple through the entire financial ecosystem, affecting everything from inflation expectations to risk asset valuations.