A second tranche of warrantings in South Korea Wednesday sent the headline figure higher again. Pusan and Gwangyang have received 7,800t between them so far this week and the net rise of 5,425t over the last two days has already reversed last week's 3,900t decline.
Draws were moderate and better than Tuesday's 925t but continued low cancellation rates are going to prevent them accelerating any time soon.
With only 625t cancelled yesterday and only 1,075t so far this week, the ratio of cancelled tonnage has slid to 4.7% from over 5% last week.
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