Base Metals

Base Metals Meaning:
In economics, refers to metals which are non-ferrous, non-precious and used for industrial purposes. They include nickel, zinc, tin, lead, copper and aluminum.

Base Metals Example:
Because base metals are important in industry, some people believe that the prices they trade at on exchanges such as the London Metal Exchange reflect the global economic outlook. Copper, for example, is the world’s third most-used metal, and therefore (the theory goes) its price will go up during periods of economic growth and down in a recession.