LIVE FUTURES REPORT 31/03: Rewarranting of aluminium at LME warehouses in Malaysia fails to depress futures prices

More than 60,000 tonnes of aluminium was rewarranted at London Metal Exchange warehouses in Port Klang, Malaysia, on Wednesday March 31, but prices remained broadly unchanged from Tuesday's closing readings.

The rewarranting of about 62,600 tonnes of aluminium follows on from 513,000 tonnes of metal being canceled over the past two weeks, after the delivery of more than 650,000 tonnes on March 11-12.
As the cancellations have built up, especially in Port Klang, queues have been building in the city's warehouses, meaning that the waiting time for deliveries is estimated to be as far out as September and October, sources recently told Fastmarkets. 

"I guess that length...

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