Warranted tonnage in the NYMEX warehouse system hit a fresh 2006 low of 13,235 tons Tuesday thanks to 3,313 tons of draws of T-bar from Owensboro. In fact, the headline figure is now at its lowest since Feb last year and down by 55,126 tons on the start of January.
The LME system, by contrast, is still showing a year-to-date increase of 37,000t, largely due to particularly heavy inflow in the very first weeks of the year.
The headline figure is once again ticking lower but largely due to the temporary cessation of arrivals rather than any dramatic change in a highly modest daily "out" rate.
With cancellations of 1,400t Tuesday nearly matching draws of 1,500t, the ratio of cancelled tonnage was little changed at a still lowly 3.6%.
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