base metal

base metal definition - finance
Any metal from the group of metals that includes copper, aluminum, lead, nickel, tin, and zinc. Traders on the London Metal Exchange, as well as other exchanges, such as the New York Mercantile Exchange, trade futures contracts on base metals. Base metals are in contrast to precious metals, such as gold and silver.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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