LME-registered stocks of alloy fell by a net 800t last month, bringing the year-to-date decline to 1,000t.
The only inflow last month was of 320t at Trieste on Feb 9 and it was offset by 40t of draws at the same location as well as steady draws at fellow Italian location Genoa (740t) and at Rotterdam (340t).
Cancelled tonnage rose by 460t over the course of the month and the 1,240t sitting in the cancelled category at end-February marked a new high for 2007. It was boosted yesterday by 100t of cancellations of DIN226 ingot at Antwerp and 100t of A380 ingot at Genoa.
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