On Thursday, April 10, data released by the London Metal Exchange (LME) showed that the share of available aluminum inventories of Russian origin in LME-registered warehouses increased from 75% in February to 88% in March, while the share of aluminum inventories of Indian origin decreased from 24% to 11%.
The LME banned metals produced by Russia after April 13, 2024, from entering its warehousing system to comply with sanctions imposed by the US and the UK due to Russia's special military operation against Ukraine in 2022. However, metals produced before the aforementioned date remain tradable.
By the end of March, the available or registered aluminum inventories of Russian origin increased to 200,700 mt, compared to 155,125 mt at the end of February.
Data showed that aluminum inventories of Indian origin decreased from 49,400 mt to 25,050 mt.
The share of available copper inventories of Russian origin in LME warehouses increased from 37% to 54%, with a relatively stable quantity of 59,950 mt, while copper inventories of Chinese origin decreased from 80,950 mt to 45,325 mt.
By the end of March, available nickel inventories of Chinese origin accounted for half of the LME warehouse share.
