The LME aluminium stocks headline figure continues to hold steady around the 830,000t level with Wednesday seeing inflow and outflow almost matched.
Singapore remains the only consistent point of arrival in the system and at the moment warranting activity is outpacing draw activity. Exchange-registered stocks here have risen by a net 5,325t since the start of the month.
Draw activity remains generally subdued, with metal not leaving Trieste at an accelerated pace as suggested by the way all the tonnage here was cancelled in one day.
After three relatively strong days, fresh cancellations eased again yesterday to just 300t. An overall cancelled tonnage ratio of 4.3% suggests more of the same in terms of “out” side activity in the coming days.
The LME aluminium stocks headline figure continues to hold steady around the 830,000t level with Wednesday seeing inflow and outflow almost matched.
Singapore remains the only consistent point of arrival in the system and at the moment warranting activity is outpacing draw activity. Exchange-registered stocks here have risen by a net 5,325t since the start of the month.
Draw activity remains generally subdued, with metal not leaving Trieste at an accelerated pace as suggested by the way all the tonnage here was cancelled in one day.
After three relatively strong days, fresh cancellations eased again yesterday to just 300t. An overall cancelled tonnage ratio of 4.3% suggests more of the same in terms of “out” side activity in the coming days.
The downtrend in LME-registered stocks of NASAAC remains in full force with departures yesterday from Detroit (180t of T-bar), Baltimore (60t of ingot and 20t of large sow) and St Louis (20t of small sow).
What left was replaced in the cancelled pipeline with 360t cancelled at Baltimore, split between 260t of large sow and 100t of ingot.
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