Source: Jeff Yoders/MetalMiner
US construction continues to post robust numbers fueled, in part, by low materials prices. The London Metal Exchange’s new contracts haven’t drummed up support yet, but it’s still VERY early.
Nonresidential Construction Soars
Nonresidential construction in October soared 32% in October from the September level, according to a report by Dodge Data & Analytics, and the value of construction starts was up 13%.
Residential construction was up 9% for the month, helped in part by 11 multifamily projects, each worth $100 million or more.
New LME Products Not Drawing Interest Yet
The London Metal Exchange‘s new aluminum and steel contracts failed to attract much interest at their launch on Monday, highlighting the struggle they face to gain traction and liquidity.