Base Metals/ Industrial

Base metals are nonferrous (no iron content) metals that are neither precious metals nor noble metals and include; copper, lead, nickel, tin, aluminium, and zinc. (Source; thebalance.com, 2019)

Base metals are not as valuable as precious metals but have value to due to their practical uses in global construction and various industrial applications. The copper price is often cited as a leading global economic indicator because of its widespread use in most sectors of the economy. (Source; investopedia.com, 2019)

Australian base metal exports were worth more than $28.5 billion in 2018 (Source; DFAT, 2019)