MI alloy stocks analysis: Draws accelerate

Tuesday brought a sharp acceleration in draws thanks to the movement of 500t of DIN226 ingot at Singapore. This location has featured heavily in terms of recent cancellation activity, so no big surprise to see it spring into action like this. Although fresh cancellations here were just 40t yesterday (and the only ones in the system), Singapore still holds 1,760t of cancelled tonnage. Elsewhere, Trieste lost 80t of A380 ingot and Antwerp 20t of DIN226 large sow.