LME-registered stocks of NASAAC fell by 1,380t last week. It was the fourth consecutive weekly decline and leaves the headline figure at its lowest level this year—down by 4,900t since the start of January having worked off the big stocks increases in the first month of the year.
The last warrantings in the system were almost a month ago and since then the traffic has been all one way. "Out" side activity can be expected to remain robust after last week brought an acceleration in cancellations to 2,380t, ensuring the cancelled pipeline remains well filled.
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