Investing In Commodities For Dummies by Amine Bouchentouf

Author:Amine Bouchentouf
Language: eng
Format: epub
ISBN: 9781119122036
Publisher: Wiley
Published: 2015-10-26T00:00:00+00:00

Steel, aluminum, and copper may not be as glamorous as their precious counterparts — gold, silver, and platinum, covered in Chapter 7 — but they’re perhaps even more precious to the global economy. Without these metals, which are literally the building blocks of modern societies, life as you and I know it wouldn’t exist. Buildings couldn’t be built without steel, cars wouldn’t be as lightweight and efficient without aluminum, and you probably wouldn’t be able to get any electricity in your home without copper, which is the electrical conductor of choice. Due in part to rapid industrialization in China (which happens to be the largest steel producer), India, and other leading developing countries, demand for these three building block metals is strong and will remain robust for the medium to long term. The future looks bright for these metals.

Other metals — the precious metal palladium and the industrial metals zinc and nickel — are important components of the metals complex in their own right: palladium because of its precious metal status and as a part of the platinum group of metals (PGM), and nickel and zinc for their wide use in industry. These metals may not get much attention from the financial press, but you still need to consider including them in your portfolio: They’re essential building blocks of the global economy.

I outline the market characteristics of each of these metals so that you can determine whether they’re right for you.

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