The base metals traded on the London Metals Exchange include copper, aluminum, nickel, lead, zinc, and tin. Base or nonferrous metals are infrastructure building blocks and are increasingly green metals as they have significant applications in green energy initiatives combating climate change. Electric vehicles and wind turbines require copper, while nickel and lead are crucial battery components.
In 2023, the base metals sector fell 10.03%. In a December 19 Barchart article outlining the prospects for copper prices in 2024, I wrote:
