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.