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

Published: Feb 3, 2016 09:16

Save

Market will eye US ADP employment report for January and EIA crude oil stock data on Wednesday.

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.

base metals prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn