LME-registered stocks of NASAAC fell by 1,980t last week with the mid-week warranting of 500t at Detroit making only a temporary impact on very steady daily draws.
The headline figure is now showing a year-to-date decline of 2,620t, having worked off the early-year build in inventories.
Fresh cancellations slowed to 580t last week from the previous week’s 4,480t and cancelled tonnage is falling again. That said, however, there is still no shortage of metal awaiting departure and what is in the cancelled category will feed this sort of daily draw rate for several more days yet.
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