LME stocks of aluminium fell by a net 5,875t last week, largely offsetting the previous week's 6,575t rise.
The weekly fall was largely due to a much slower "in" rate with warrantings dropping off sharply to just 725t—Friday's 325t at Pusan and 400t mid-week at Singapore.
Daily draw rates slowed further to an average 1,320t from 1,485t the previous week, which reflected low cancellation rates and the resulting slide in cancelled warrants.
Fresh cancellations perked up a little to 9,325t last week from 5,400t the previous week but a ratio of cancelled tonnage of 3.8% as of Friday is still low and unlikely to translate into any sustained re-acceleration of "out" side activity any time soon.
NYMEX-warranted stocks fell by a net 783 tons to 15,765 tons with draws of 3,313 tons at Owensboro only partly offset by warrantings of 2,530t at Toledo.
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