Iron ore had the largest global market size of all metals in 2022, amounting to more than 280 billion U.S. dollars. Gold came in second, with a global market value of nearly 200 billion U.S. dollars. In comparison, the global market value of crude oil exceeded two trillion U.S. dollars that year, far overshadowing the value of commodity metals.

This statistic depicts global commodity price indexes for energy, metal, and agriculture from January 2018 to November 2019. In November 2019, the commodity index for energy stood at 87.7, compared to 86.1 for metals, and 98.4 for agriculture.

Steel decreased 101 Yuan/MT or 3.05% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on March of 2025.

Explore the intricate world of steel commodity trading, a vital component of the global steel industry, where producers, distributors, and consumers navigate price risks and market dynamics. Learn about the role of futures and options contracts, the impact of economic factors, and the evolving focus on sustainability in this comprehensive guide.

Graph and download economic data for Global price of Metal index (PMETAINDEXM) from Jan 1992 to Feb 2025 about World, metals, indexes, and price.

Base Metal Mining Market size was valued at USD 551.03 Billion in 2023 and is projected to reach USD 716.71 Billion by 2030, growing at a CAGR of 3.83% during the forecast period 2024-2030.

Global Base Metal Mining Market Drivers

The market drivers for the Base Metal Mining Market can be influenced by various factors. These may include:

Infrastructure Development: Projects involving the building, transportation, and utility industries are directly linked to the need for basic metals. The need for base metals in wiring, plumbing, and construction materials is driven by the growing urbanization and requirement for contemporary infrastructure.
Industrial Manufacturing: Automotive, electronics, equipment, appliances, and other industrial sectors all depend on base metals as vital raw materials. The demand for base metals in the production of components and finished items is rising due to the expansion of manufacturing operations worldwide.
Renewable energy sources with electric vehicles (EVs): The demand for base metals, particularly copper and nickel, is driven by the move to electric vehicles and the expanding renewable energy industry. These metals are essential for the production of electric motors, batteries, and infrastructure supporting renewable energy sources.
Global Economic Growth: The demand for base metals is influenced by the state of the world economy as a whole. Base metal demand rises in times of economic expansion due to increased demand for consumer items, infrastructure, and industrial products.
Technological Developments: The production of high-tech gadgets, electronic components, and advanced alloys necessitates the use of base metals, which is driven by technological developments such as the creation of lighter, more energy-efficient materials.
Emerging Markets: The swift urbanization and industrialization of these regions is a factor in the rise in base metal demand. These areas are seeing rapid economic expansion, which increases demand for base metals for infrastructure, manufacturing, and building projects.
Trends in the Automotive Industry: The switch to electric and hybrid vehicles, among other innovations, has increased demand for base metals, especially nickel and copper, which are used to make batteries and other components for electric vehicles.
Geopolitical risks and supply chain disruptions: Base metal output may be impacted by supply chain disruptions brought on by trade disputes, natural disasters, or geopolitical tensions. Supply chain stability worries can influence metal prices and cause market volatility.
Environmental requirements: As a result of stricter emissions and sustainability requirements as well as growing environmental awareness, base metals are being used more and more in green technology and energy-efficient applications, which is driving up demand.
Trends in Metal Recycling: Base metal recycling is encouraged by the growing focus on sustainability and circular economy principles. The expansion of the recycling sector influences the dynamics of the mining market and adds to the overall availability of base metals.
Investing in Exploration: Commodity prices and long-term demand projections impact exploration efforts aimed at locating new base metal reserves and deposits. Investments in exploration are essential to preserving a steady supply of base metals.
Currency Fluctuations: Currency fluctuations have an impact on base metal prices because mining is sometimes done internationally. Exchange rate fluctuations can have an effect on the dynamics of supply and demand generally as well as the competitiveness of mining operations.

In 2024, the average annual London Metal Exchange (LME) price for tin was approximately 14 U.S. dollars per pound, making it the highest-priced base metal that year. Nickel had the second-highest price out of the base metals at that time, with an average annual LME price of approximately 7.70 U.S. dollars per pound in 2024. Although there is no clear-cut definition of the term, base metals usually refer to metals that oxidize easily, and is most commonly categorized as including tin, nickel, copper, zinc, lead, and aluminum.

The global commodity trading services market is experiencing robust growth, driven by increasing globalization, fluctuating commodity prices, and the need for efficient supply chain management. The market size in 2025 is estimated at $2 trillion, exhibiting a Compound Annual Growth Rate (CAGR) of 6% between 2025 and 2033. This growth is fueled by several key factors. Firstly, the rising demand for raw materials across various sectors, including metals, energy, and agriculture, is creating lucrative opportunities for commodity trading firms. Secondly, technological advancements in areas like data analytics and blockchain technology are improving transparency, efficiency, and risk management within commodity trading, further stimulating market expansion. Finally, the increasing complexity of global supply chains necessitates the expertise of specialized commodity traders to navigate market volatility and ensure secure and timely delivery of goods. The market is segmented by commodity type (metals, energy, agricultural, and others) and by the size of the businesses served (large enterprises and SMEs). While large enterprises dominate the market currently, the SME segment shows strong potential for future growth as businesses increasingly rely on external expertise for commodity sourcing. The geographical distribution of the commodity trading services market is diverse, with North America, Europe, and Asia Pacific representing the major regions. However, emerging markets in Asia and Africa are showing significant growth potential due to rapid industrialization and rising consumer demand. Competitive pressures within the industry are high, with numerous large multinational corporations vying for market share. These companies, including Vitol, Glencore, Trafigura, Mercuria, and Cargill, possess extensive global networks, strong financial capabilities, and deep expertise in risk management, allowing them to dominate the market. Nevertheless, smaller, specialized trading firms are also finding success by focusing on niche markets or employing innovative trading strategies. The overall outlook for the commodity trading services market remains optimistic, with continued growth expected over the coming years, albeit with some potential challenges related to geopolitical instability and regulatory changes.

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Commodity Index: Multi Commodity Exchange of India: Future Price: Metal data was reported at 5,092.260 2001=1000 in 10 Dec 2018. This records an increase from the previous number of 5,053.790 2001=1000 for 07 Dec 2018. Commodity Index: Multi Commodity Exchange of India: Future Price: Metal data is updated daily, averaging 4,242.070 2001=1000 from Jun 2005 (Median) to 10 Dec 2018, with 3904 observations. The data reached an all-time high of 5,741.310 2001=1000 in 03 Sep 2013 and a record low of 1,466.410 2001=1000 in 04 Jul 2005. Commodity Index: Multi Commodity Exchange of India: Future Price: Metal data remains active status in CEIC and is reported by Multi Commodity Exchange of India. The data is categorized under India Premium Database’s Financial Market – Table IN.ZF004: Commodity Index.

Explore the complex world of precious metals, including gold, silver, platinum, and palladium, and understand how factors like economic indicators, industrial demand, and geopolitical tensions impact their commodity prices and investment appeal.

China Commodity Trading Market over 100 M Yuan: Number of Market: Metal Materials Market data was reported at 140.000 Unit in 2023. This records a decrease from the previous number of 146.000 Unit for 2022. China Commodity Trading Market over 100 M Yuan: Number of Market: Metal Materials Market data is updated yearly, averaging 224.000 Unit from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 289.000 Unit in 2011 and a record low of 140.000 Unit in 2023. China Commodity Trading Market over 100 M Yuan: Number of Market: Metal Materials Market data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Wholesale, Retail and Catering Sector – Table CN.RJA: Commodity Trading Market over 100 Million Yuan: Number of Market.

The nickel commodity market refers to the trading and pricing of nickel as a raw material. Nickel is a chemical element with the symbol Ni and atomic number 28. It is a silvery-white metal that is highly corrosion-resistant and has good heat and electrical conductivity. Due to its various industrial applications, nickel is considered a vital metal in the global economy. Learn more about the factors influencing the nickel market, such as supply and demand dynamics, global economic conditions, and geopolitica

Global Commodity Services market size 2025 was XX Million. Commodity Services Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

China Commodity Trading Market over 100 M Yuan: Operating Area: Metal Materials Market data was reported at 18,885.783 sq m th in 2023. This records a decrease from the previous number of 19,213.182 sq m th for 2022. China Commodity Trading Market over 100 M Yuan: Operating Area: Metal Materials Market data is updated yearly, averaging 21,560.450 sq m th from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 26,584.900 sq m th in 2011 and a record low of 18,885.783 sq m th in 2023. China Commodity Trading Market over 100 M Yuan: Operating Area: Metal Materials Market data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Wholesale, Retail and Catering Sector – Table CN.RJA: Commodity Trading Market over 100 Million Yuan: Operating Area.

Aluminum increased 16.20 USD/Tonne or 0.63% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Aluminum - values, historical data, forecasts and news - updated on March of 2025.

Explore the intricacies of the copper commodity market, a key player in the global economy. Discover how market dynamics, price influences, and investment opportunities affect this vital industrial metal, as well as the impact of technological and environmental factors.

Lead Metals Market size was valued at USD 17.09 Billion in 2023 and is projected to reach USD 25.11 Billion by 2031, growing at a CAGR of 7.9% during the forecast period 2024-2031.

Global Lead Metals Market Drivers

The Lead Metals Market is influenced by a variety of market drivers, which include:

Economic Growth: Demand for lead often correlates with industrial activity. Economic growth in emerging markets can increase the demand for lead in construction, automotive, and other industries.
Batteries: The largest use of lead is in lead-acid batteries, primarily for vehicles and energy storage systems. The growth in electric vehicles (EVs) and renewable energy storage can influence lead demand.

Global Lead Metals Market Restraints

The Lead Metals Market, like any other commodity market, can face various restraints that can impact its growth and dynamics. Some of the key market restraints for the lead metals market include:

Environmental Regulations: Stringent regulations regarding lead mining, processing, and disposal due to its toxic effects can limit production capabilities and increase costs. Many countries have implemented strict environmental policies to mitigate lead pollution and promote alternative materials.
Health Concerns: Lead is recognized as a toxic substance that poses serious health risks, especially for children and pregnant women. Growing awareness of these health risks can lead to a decline in demand for lead-based products, particularly in industries such as batteries and pigments.

Germany Commodity Price: Precious Metals: Gold data was reported at 3,019.806 USD/Troy oz in 25 Mar 2025. This records an increase from the previous number of 3,011.189 USD/Troy oz for 24 Mar 2025. Germany Commodity Price: Precious Metals: Gold data is updated daily, averaging 1,409.687 USD/Troy oz from Jan 2013 (Median) to 25 Mar 2025, with 3101 observations. The data reached an all-time high of 3,047.574 USD/Troy oz in 19 Mar 2025 and a record low of 1,050.717 USD/Troy oz in 17 Dec 2015. Germany Commodity Price: Precious Metals: Gold data remains active status in CEIC and is reported by Deutsche Börse Group. The data is categorized under Global Database’s Germany – Table DE.P001: Commodity Prices. [COVID-19-IMPACT]

Explore the dynamic steel industry, its production processes, economic impacts, leading global producers, and the role of innovation and sustainability in shaping its future.