The base metals sector includes copper, aluminum, nickel, lead, zinc, and tin, which are infrastructure building blocks. Over the past years, the rising demand for alternative and renewable power sources has increased the demand for some of these metals, as they are critical ingredients in batteries that store energy. The base metals sector moved 8.19% lower in Q4 but was 3.77% higher in 2024. A stronger U.S. dollar and higher long-term interest rates weighed on prices during the final three months of 2024.
The dollar index rallied, and the long bonds declined, weighing on base metal prices
