MI alloy stocks analysis: Cancellations surge

Surface movement in terms of LME-registered stocks of alloy amounted to no more than the draw of a single lot of DIN226 ingot at Antwerp. More dramatic was the cancellation of 1,500t of the same specification metal at Rotterdam.

That's lifted cancelled tonnage in the system to a fresh 2007 high and the highest level since Aug 10 last year. As such, an acceleration in "out" side activity is inevitable sooner or later.