MI alloy stocks analysis: Up 88% in 2006

LME-registered stocks of alloy rose by 88%, or 46,340t, over the course of 2006 to end the year at 99,280t, the highest level since early 2002.

The first week of 2007 has brought no warrantings but steady 60t per day draws of A380 ingot from Genoa in Italy. These are coming from the 1,000t of cancellations back on Dec 7 with 460t still awaiting departure. That suggests continued outflow in the next few days.