Base metals refers to industrial non-ferrous metals - also known as "common" metais - and exclude precious metals such as gold and silver. These base metals include copper, aluminium, lead, nickel, tin and zinc.
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Base metals, while not as sexy as the shiny "precious" metals such as gold, silver and platinum, formed a significant part of commodities investments in the recent super-cycle for commodities, which came crashing to earth in 2008. The website Kitco is the preeminant source of all things relating to base metals.
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