MI aluminium stocks analysis: Small net LME rise

The LME headline figure rose back upwards the recent year’s highs thanks to a combination of slightly better “in” rates and slowing draw rates.

Tuesday again saw low cancellation rates and cancelled tonnage has slipped to two week lows with the ratio of cancelled tonnage also trending lower, now at 2.4%. Whichever way you look at it, “out” side activity seems set to slow further.
Tuesday’s draw rates already marked a gear-shift from Monday and Friday and they may be more representative of what we should expect in the coming days.