LME-registered stocks of NASAAC ended 2006 at 135,640t, up 6,680t, or 5.2%, on the year. However, the first days of the new year have seen the headline figure surge to a new life-of-contract high on the back of heavy inflow at Chicago (10,860t) and more modest warranting activity at Baltimore (980t) and St Louis (120t).
Metal is dribbling out of Baltimore but despite another 80t of cancellations at this east coast location Wednesday, cancelled tonnage generally looks low, which will keep the bias towards the "in" side if these warrantings continue.
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