MI aluminium stocks analysis: More US inflow; fresh 3-year highs
The LME headline aluminium stocks figure hit a fresh 3-year high Tuesday thanks to another hefty round of warranting activity at Baltimore.
| LME Aluminium Stocks | ||||||
| Previous | In | Out | Total | Open | Cancelled | Change |
| 846,825 | 8,900 | 1,725 | 854,000 | 826,900 | 27,100 | +7,175 |
| Location | In | Out | Cancellations |
| Trieste | 0 | 25 | 0 |
| Pusan | 0 | 525 | 375 |
| Gwangyang | 0 | 300 | 400 |
| Johor | 0 | 100 | 0 |
| Singapore | 875 | 775 | 1,100 |
| Baltimore | 8,025 | 0 | 0 |
As with Monday’s action at the US east coast location the inflow was in the form of sow and T-bars and brings the two-day build to 15,325t.
Including Friday’s heavy landings at Liverpool, the headline figure has risen by a net 27,275t in the space of just three reporting days—the type of net movement we haven’t seen since February.
Draw rates remain respectable and fresh cancellations continue to come through daily but they are making no impact against this accelerated arrival pattern.
| LME Alloy Stocks | ||||||
| Previous | In | Out | Total | Open | Cancelled | Change |
| 75,720 | 0 | 100 | 75,620 | 73,700 | 1,920 | -100 |
LME stocks of alloy ticked lower again Tuesday with draws of DIN226 from Rotterdam (40t) and Singapore (40t) and of A380 from Trieste (20t).
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