MI NASAAC stocks analysis: Cancelled tonnage rising

LME-registered stocks of NASAAC continued their steady slide yesterday with draws from Baltimore (220t) and Chicago (100t). Thursday brought another 600t of cancellations—400t at Baltimore, 100t at Chicago and 100t at Detroit—which has lifted cancelled tonnage in the system to a six-week high. That promises continued robust "out" side activity in the coming days.