Long queues build up at Port Klang warehouses after aluminium cancellations - sources

The waiting time for deliveries of aluminium from London Metal Exchange warehouses in Port Klang, Malaysia, is estimated to be as far out as to September or October after a series of large cancellations, sources told Fastmarkets on Friday March 26.

Over the past two weeks, 513,000 tonnes of aluminium have been canceled at warehouses in Port Klang. including over 190,000 tonnes on single day on March 19.
This followed over 600,000 tonnes of aluminium being delivered between March 11 and 12 - the majority of which was to sheds in Port Klang.
"I heard the wait time at a warehouse in Port Klang is as far out as October now. It has gone from no queue to a massive queue in a few weeks," a trader said.
Current LME aluminium stocks sit at 1,926,000 tonnes, with 60% of the aluminium sitting in warehouses in Port Klang.

Of the 1,155,875 tonnes of aluminium...

Gold stocks reach new highs on metal price gain

Rise in gold stocks propels TSXV Mining

Market sees gold sector nearing full value overall after target upgrades

Gold stocks gain even as metal pulls back

Gold stocks rocket to new highs, valuations no longer inexpensive