MI alloy stocks analysis: More cancellations

The long-running downtrend in LME-registered stocks of alloy is currently in an accelerated phase, Wednesday bringing 300t of draws and 400t of fresh cancellations. Draws of DIN226 ingot came from Singapore (80t), Rotterdam (60t) and Vlissingen (40t). Draws of A380 ingot came from Genoa (120t). The cancellations were all in the form of DIN226 and were split between 300t at Singapore, 60t at Antwerp and 20t each at the two Dutch locations, Rotterdam and Vlissingen. The action keeps the cancelled pipeline pump-primed for more solid draws in the days ahead.