LME-registered stocks of alloy fell by 100t last week, extending the downtrend to its eighth consecutive week. The headline figure is now showing a year-to-date decline of 1,980t.
Activity last week was subdued with zero arrivals—the last were in early February—and modest draws from Antwerp (40t) and Rotterdam (60t). There were 100t of fresh cancellations—all at Liverpool—and although cancelled tonnage is not high, it does include both that at the UK location and 400t of recently-cancelled metal at Singapore which is yet to move.
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