Key Macroeconomic Indicators for Base Metal Prices (2016-2-3)

SHANGHAI, Feb. 3 (SMM) – Market will eye US ADP employment report for January and EIA crude oil stock data on Wednesday. 

Data from the EIA showed US crude oil stocks surged 3.28 million barrels to 8.38 million barrels in the week ending January 22, a record low. The EIA will release crude oil stocks in the week ending January 29. Should stocks continue growing, crude oil prices will take a hit.   

Market expects US private sector to add 193,000 jobs in January, well below 257,000 in December.