SHANGHAI, Nov. 18 (SMM) – Base metals prices are expected to remain range-bound. US October housing starts and construction permits will be released today.
US September construction permits fell 5% MoM, with multi-family building permits down 12.1% MoM. But ADP report shows the number of jobs in the construction sectors increased 35,000 in October, flat at September. NAHB builder confidence also strengthened.
API crude oil inventories in the US unexpectedly slid, the first drop after growing for six weeks in a row. EIA crude oil inventories also grew for seven straight weeks.