You may not have water in the basement but your walls may get wet and
mold anyway when sealed, I put in remevable panels incase of future
issues. Steel has no insulating value, go wood. Foamboard blue or pink
is R5 per", Foilfaced polyisocyanurate is R 6.8", fiberglass batt is
only R3.5". Im just south of you and used 3" polyiso foamboard. You have
little room so foamboard makes a big difference in winter to keep out
the cold.