Friday's aluminium stocks movement in the LME system was dominated by the mass warranting of 13,100t of T-bar at Liverpool in the UK.
| LME Aluminium Stocks | ||||||
| Previous | In | Out | Total | Open | Cancelled | Change |
| 826,725 | 15,100 | 2,200 | 839,625 | 815,500 | 24,125 | +12,900 |
| Location | In | Out | Cancellations |
| Trieste | 0 | 125 | 0 |
| Pusan | 0 | 550 | 1,000 |
| Gwangyang | 0 | 0 | 300 |
| Johor | 0 | 0 | 175 |
| Singapore | 2,000 | 950 | 975 |
| Liverpool | 13,100 | 0 | 0 |
| Baltimore | 0 | 100 | 0 |
| Detroit | 0 | 300 | 0 |
| New Orleans | 0 | 100 | 0 |
| St Louis | 0 | 75 | 0 |
Together with continued inflow at Singapore—which received metal every day last week with cumulative inflow of 4,000t—Friday's surge in arrivals sent the headline figure to a fresh 2007 high.
Draw rates have recovered a bit over the last week or so, largely thanks to steadier cancellation activity. There were another 9,275t of fresh cancellations last week and the cancelled pipeline has rebuilt somewhat from its recent Aug 22 low of 17,125t.
That should underpin draw rates at Friday's level going forwards but it will make little difference in the event of a repeat of Friday's warranting rate.
We'll be taking a more detailed look at global stocks movements in tomorrow's MI.
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