MI NASAAC stocks analysis: First arrivals in a month

Wednesday brought the first NASAAC warranting action in just over a month in the LME system. It came at Detroit in the form of 360t of small sow. It remains to be seen whether this is the start of something bigger or a one-off. Draws, meanwhile, remain solid with Baltimore yesterday losing 80t, Chicago 60t and St Louis 20t. There were also 260t of fresh cancellations—240t at Baltimore and 20t at Chicago—which promises more of the same in the coming days.