LME-registered stocks of aluminium rose for the first time since May 31 yesterday thanks to a slight pick-up in the rate of arrivals at Singapore.
Singapore has been the only LME location to record inflow so far this month, the cumulative total so far coming to a relatively modest 6,175t.
Draws remain lethargic, including, somewhat surprisingly, at Trieste, where metal is trickling rather than flowing out after the cancellation of all the registered tonnage here (17,725t) on May 29.
The ratio of cancelled tonnage is creeping higher—now at 4.2%--but still doesn’t suggest any potential for accelerated draw activity anywhere other than the Italian location.
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