Another net rise Tuesday extended the current up trend to eight consecutive days and a cumulative increase of 24,500t over that period. The headline figure is now back at levels last seen in early July 2006.
However, the daily inflow is still better characterised as modest rather than robust given the continued incentive to deliver metal into the LME system from the backwardation.
European locations remain largely conspicuous by their absence in terms of fresh arrivals, which remain concentrated on the US locations.
A day of meagre cancellation activity saw the ratio of cancelled tonnage edge down to a low 3.7%, which suggests continued low "out" side activity levels with the exception of those locations such as Gwangyang and Sweden which account for large concentrations of the cancelled warrants.
豫公网安备41010502003434号