Queues at Port Klang widen gap in aluminium warrant premiums

The build-up in expected times to deliver aluminium material out of London Metal Exchange warehouses in Port Klang has created a gap in warrant premiums for the metal unseen since Fastmarkets started covering the market in January 2017.

Queue times at some warehouses are reported to be at three months, at least, in some Port Klang warehouses, with other traders telling Fastmarkets that the next available slots for delivery out were either September or October.
The queue times rapidly rose in the Asian city in the middle of March when over 500,000 tonnes of aluminium were cancelled in warehouses there, including over 190,000 tonnes on a single day on March 19.

Since LME aluminium stocks began to rise last March, Southeast Asian port cities such as Klang, Johor Bahru and Singapore have become...

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