MI NASAAC stocks analysis: Downtrend back in full force

There have been no fresh landings of NASAAC at LME warehouses in Chicago in the last couple of days and their absence has allowed the downtrend to reassert itself. Draws were robust again Monday with 120t leaving Batlimore and 80t Chicago. But equally significant were the 360t of fresh cancellations, split between 280t at Baltimore (140t of T-bar, 80t of large sow and 60t of ingot) and 80t at Chicago (small sow).