NewsFlash / Copper / Russian Aluminum Inventory Drops to 66% at LME Warehouses Amid Trading Restrictions, Indian Stocks Rise
Russian Aluminum Inventory Drops to 66% at LME Warehouses Amid Trading Restrictions, Indian Stocks Rise
iconOct 11, 2024 12:11
Source:SMM
According to foreign media reports, the London Metal Exchange (LME) recently released data showing that in September, the proportion of Russian aluminum inventories in LME-approved warehouses decreased slightly to 66%, while the proportion of Indian aluminum inventories increased to 32%. Additionally, after three consecutive months of decline, aluminum registered warehouse receipts saw a 13% increase for the first time in September. Notably, in April this year, the United States and the United Kingdom imposed new trading restrictions on Russian aluminum, copper, and nickel, banning the LME and the Chicago Mercantile Exchange (CME) from accepting Russian metals produced on or after April 13. As of September 30, the volume of Russian aluminum in LME aluminum registered warehouse receipts stood at 258,525 tonnes.

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