Tuesday was the first day in three weeks without any arrivals at all in the LME system and in their absence the headline figure ticked lower. Draw rates are being underpinned by daily movement at Trieste and Singapore, which hold the bulk of the cancelled tonnage.
The latter received a short-term boost yesterday thanks to 4,675t of fresh cancellations, which was the highest single-day total in around a month.
That's helped partly refill a sagging cancelled pipeline but the overall ratio of cancelled tonnage in the system remains at a low 3.8%.
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