MI NASAAC stocks analysis: Draws accelerate

Tuesday brought a marked acceleration in draws from the system in response to last week's bumper crop (2,720t) of cancellations. Owensboro lost 820t of small sow and Baltimore 60t of ingot and 20t of large slow. The cancelled pipeline was topped up to the tune of a further net 220t at Chicago. There was some adjustment of cancelled tonnage at Owensboro with 780t of small sow cancelled and a similar amount of large sow "un-cancelled".