MI aluminium stocks analysis: US inflow drives stocks higher

The ongoing surge of metal onto LME warrant in the US continues to run its course with both Chicago and Baltimore again in action yesterday. Draws re-accelerated Tuesday and a big 5,000t tranche of metal moved into the cancelled category at Singapore, which keeps the cancelled pipeline as full as it's been since January. But even robust "out" side activity will continue to slow rather than halt the overall up trend in LME aluminium stocks, while this wholesale movement of metal onto market continues. This mammoth rebuild in LME-registered stocks in the US is contrasting with more pressure on NYMEX-warranted stocks in the country. Here, a nascent downtrend seems to be emerging. After a prolonged period of very subdued activity, draw rates have noticeably picked up in the last week or so. Yesterday brought more of them at Toledo, the headline figure falling another 220 tons to 17,558 tons (15,929 metric).