The industrial non-precious metals — copper, zinc, lead, nickel, aluminium, tin.
Industrial metals that are relatively abundant and oxidize or corrode easily, including copper, zinc, lead, nickel, and aluminum. Base metals are essential for construction, manufacturing, and infrastructure, distinguished from precious metals like gold and silver.
Base metals track industrial production and construction rather than monetary conditions, so they move on a different cycle from gold. A portfolio weighted to both is less diversified than it looks, because the equities often trade together regardless.
108 terms have their own page: the definition, why it matters to an investor, where it shows up in practice, and the mistake people make with it.