LME-registered stocks of alloy fell by 660t last week with no landings—the last arrivals in the system were early-February—and robust draws thanks to the recent build in cancelled tonnage. It was the tenth consecutive weekly decline and the headline figure is now showing a year-to-date decline of 3,380t, or 3.4%.
Cancellations last week totalled 4,120t—split between 3,020t at Rotterdam, 1,000t at Trieste and 100t at Singapore—which has left the system pump-primed for further robust “out” side action in the coming days.
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