LME-registered stocks of aluminium registered a small net decline of 950t last week with modest inflow being cancelled out by equally modest draws.
Arrivals in the system were concentrated on US and Asian locations. In the US Detroit received 1,750t and St Louis 1,600t. In Asia Singapore received 2,000t and Johor 800t.
Draws were liberally scattered through the system (Friday's breakdown in the table above is a good snapshot of the weekly patterns) with the heaviest activity coming at Singapore (2,425t), Baltimore (1,425) and New Orleans (750t).
There's little to suggest any imminent acceleration in draw rates. Cancelled tonnage remains modest at just over 20,000t, while the ratio of cancelled tonnage ended last week at a highly pedestrian 2.7%.
With the LME headline figure becoming a bit directionless, there is a clearer trend developing in terms of NYMEX-warranted stocks. They fell by 5,389 tons to 13,832 tons (12,548 metric) last week, accelerating a downtrend that has been in place since the beginning of March.
It's not taking place in isolation since non-warranted stocks have fallen from 113,000 pieces to 90,871 over the same time-frame.
豫公网安备41010502003434号