LME-registered stocks crept up to a fresh 2007 high Monday with inflow marginally outpacing draws. The headline figure is now showing a year-to-date net increase of 124,400t, or 17.8%.
Draws continue to run at a subdued pace and will carry on doing so until cancellation activity improves. It's ticking along at no more than a steady pace right now and only just compensating for actual departures.
As such, cancelled tonnage in outright terms remains extremely low, as does the ratio of cancelled tonnage in the system at 1.9%.
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