Premiums and inventories

摘要

Cancelled warrants surged by 683,000t to a record high of 43% of total LME inventories in December. The warrants which are LME metal awaiting delivery stood at a record high of 2.23m tonnes at the end of December. The sharp rise in cancelled warrants occured in Vlissingen and Detroit over a 3 days period in late December where they rose by 268,950t and 387,700t in Vlissingen and Detroit respectively.