Base Metal also known as industrial metals are traded in MCX exchange in a special segment. Their name is derived as these materials are in-expensive in comparison to the precious metals like Gold OR Silver.
But these metal caterogy is invaluable to the global economy because of their utility. Copper a leading in this category is highly required metal globally because of its wide usage. Technically base metal is a certain category of metals which can be oxidized easily when exposed to air or moisture.
These metals are widely used in commercial and industrial applications. They are more abundant in nature and therefore they are far cheaper than the precious metals. Some other metals in base metal category are Aluminium, Lead, Nickel and Zinc.