The first big arrivals at South Korean locations in over a week brought the recent downtrend to a resounding halt Tuesday.
The two locations haven't featured "in" side activity since last Monday, since when Singapore has been the sole focus of warranting activity.
The inflow coincided with a step down in the rate of draw, which is not entirely surprising given the low ratio of cancelled tonnage we've recently highlighted.
Tuesday's total 450t of cancellations did nothing to change that particular trend with the ratio of cancelled tonnage sliding a little further to 4.9% yesterday.
Locations such as Gwangyang, which holds 3,975t of cancelled tonnage, have a history of short-lived heavy-volume movement when draws take place but with a couple of such exceptions low cancelled tonnage is going to keep a lid on "out" side activity in the coming days.
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