The LME stocks headline figure rose by a net 975t last week following an equally marginal 850t rise the previous week.
Early-week inflow at South Korean locations (6,000t) and Singapore (2,475t) just outpaced a low daily draw rate, which last week averaged 1,500t per day.
That low draw rate was a direct function of low cancelled tonnage after the previous week's negative movement of 10,425t back from the cancelled category to the open category.
Fresh cancellations were steadier last week, totalling 10,050t, but that was only enough to keep the overall ratio of cancelled tonnage from sliding further. It ended the week at 5.7%, which is still on the low side and suggests no imminent sustained pick-up in "out" side activity.
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