The LME headline figure accelerated its downtrend yesterday with inflow limited to modest warranting activity at Singapore and draws from that location remaining robust.
Singapore still holds 9,525t in the cancelled category—some it from last week's big cancellations and some of it from yesterday's activity—which is the largest concentration in the system.
There was also a tranche of cancellations at Helsingborg, where cancelled tonnage had started to look low.
That will help feed draws beyond the bulky movement of metal out of Singapore but an overall ratio of cancelled tonnage at 4.3% still suggests a sharp slowing in "out" side activity once the shipment at that location has been completed.
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