A 229-day queue for aluminium has built up at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim, according to LME data released on Monday March 11.
The wait is now over 100 days more than the queue registered at the end of February. In early February, nearly 100,000 tonnes was canceled in Port Klang - this followed cancelations of around 300,000 tonnes between January 22 and 25, causing the extended wait for deliveries. The development of a queue at the end of January sparked controversy in the market. Market sources believed the LME's linked load-in/load-out (LILO) rule should...