المدربA warehouse warrant is a document of title to a specific lot of metal of a specified brand and quality in an LME-approved warehouse, and the means of delivery against LME contracts. A cancelled warrant is one whose owner has told the warehouse that it will withdraw the metal: the lot leaves the LME system and waits to be loaded out. The load-out queue is the backlog of cancelled metal waiting to leave a warehouse when cancellations exceed its daily load-out capacity.
