off-the-wire

Russian LME aluminum stocks account for 66% of total in September

Kitco Media
By Reuters
Published:
Updated:
Reuters
Russian LME aluminum stocks account for 66% of total in September teaser image

The share of available aluminum stocks of Russian origin in warehouses approved by the London Metal Exchange (LME) fell slightly to 66% in September from 67% in August, LME data showed on Thursday.

The share of aluminum of Indian origin rose to 32% from 31%, the data showed.

On-warrant aluminum stocks in LME-registered warehouses of all origins rose by 13% in September, the first gain after three months of decline.

Stocks jumped in May followed a decision by the LME to ban all Russian aluminum, copper and nickel produced from April 13 from its system to comply with US and British sanctions imposed over Russia’s 2022 invasion of Ukraine.

Russian aluminum stocks on LME warrant – a title document conferring ownership – ended September at 258,525 metric tons, the data showed.

For copper, the largest share of inventories in September was from China at 57%, while Russian material accounted for 17% of the total.

(By Eric Onstad; Editing by David Evans)

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