LME warehousers slash capacity in Malaysia and other countries as metal stocks drain away

The Malaysian ports of Johor lost LME registered storage space of 50,583 and Port Klang 121,783. The latter has emerged as the largest LME storage hub for aluminium in recent years with registered warehouse capacity growing by 85% between June 2019 and June 2021, at which stage it had overtaken Rotterdam to claim the number one spot.(File pic shows aluminium storage at Port Klang.)

LONDON, Feb 17 (Reuters) - Glencore's decision to sell its warehousing and logistics business looks like a well-timed call on the metals storage market.

It bought Access World in 2010 in the wake of the financial crisis, which generated a surge of metal, particularly aluminium, into London Metal Exchange (LME) warehouses.