MI aluminium stocks analysis: Modest "out" side activity

With no fresh arrivals whatsoever in the LME system yesterday—for the second time in four days—the headline figure eased slightly lower.

The draw rate has slowed significantly and predictably in light of the recent slide in cancelled tonnage in the system. Yesterday's smattering of fresh cancellations at Rotterdam and Singapore does not change that picture with the overall ratio of cancelled tonnage remaining at a very low 1.9%.