Almost 200,000 tonnes of aluminium were cancelled on Friday March 19, London Metal Exchange warehouse data showed, while most futures prices traded sideways with only tin dropping nearly 2%.
Some 198,950 tonnes of aluminium were freshly cancelled on Friday and entirely in the Port Klang, Malaysia warehouses. This is the biggest cancellation after the 650,000-tonne intake of material on March 11 and 12.The market will start to experience larger queue times to remove material from these warehouses, given the size of the cancellations. As...