The queue to remove aluminium from London Metal Exchange-approved warehouses operated by Istim in Port Klang, Malaysia, doubled to 64 days at the end of August, according to the latest LME data.
At the end of July the queue was down to just 33 days, but a series of large cancellations throughout August have extended the time taken for metal to be delivered out of warehouses once again. Around 86,000 tonnes of aluminium were freshly canceled at LME sheds in Port Klang throughout August. The largest single cancellation was for 24,825 tonnes of aluminium on August 8. This followed a cancellation of 20,000...