Sunday, 23 December 2018

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Importance of Base metals:

Why Are Metals Important?

Metals are elements, compounds or alloys that are typically hard when present in a solid state. They are usually characterized by their gleaming appearance, electrical and thermal conductivity, malleability, ductility and fusibility.

Metals are typically grouped into one of two categories: Precious metals – rare, naturally occurring metallic elements Base Metals – metals widely used in commercial and industrial applications

Precious Metals:
Precious Metals are rare, naturally occurring metallic elements with high economic value. They are unusual in that they are both industrial elements and investments. Manufacturers use these metals to make electronic components, jewelry, dental equipment and catalytic converters among other things. Investors, on the other hand, collect coins and bars made out of precious metals. 
The precious metals with active commodities markets include the following: Gold and Silver

Gold is the main precious metal utilized by speculators as an investment. Although manufacturers use the metal in some electronics parts, the vast majority of gold demand derives from jewelry manufacturers and traders. Many consumers see gold jewelry as a form of investment.

Silver Manufacturers also use silver in both electronics and jewelry, while traders collect the metal in the form of coins or bars. Silver has historically traded at a fraction of the price of gold. Some traders track and trade the spread between gold and silver prices.

Base Metals Base metals are used in a whole range of industrial and commercial applications including construction and manufacturing. Their widespread use in everyday items makes them essential commodities in global markets. While the mining industry narrowly defines base metals as non-ferrous metals excluding precious metals, the broader definition used, includes the following popular commodities:

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