LME-registered stocks of NASAAC fell by 680t last week with no arrivals and continued steady draws. That said, the weekly decline marked a slowing of the downtrend relative to net falls of 1,000t and 2,000t in the two previous weeks respectively.
Fresh cancellations also tailed off a bit to just 160t last week from 500t the previous week, although there is still enough metal sitting in the cancelled pipeline to suggest the overall downtrend has a bit more to run.
The headline figure is now showing a marginal year-to-date net decline of 760t.
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