LONDON: The share of available aluminium stocks of Russian origin in warehouses approved by the London Metal Exchange rose to 65% in July from 50% in June while the share for Indian origin fell to 33% from 40%, LME data showed on Monday.
On-warrant aluminium stocks in LME-registered warehouses of all origins fell by 23% in July, with Monday’s data showing that the majority of that outflow was Indian metal.
Most base metals fall as US recession jitters dampen sentiment
Russian aluminium stocks on LME warrant – a title document conferring ownership – edged up to 233,775 metric tons last month from 232,350 in June, the data showed. Stocks of Indian origin fell to 119,575 tons from 188,800 tons.
The LME banned from its system all Russian aluminium, copper and nickel produced from April 13 to comply with U.S. and British sanctions imposed over Russia’s 2022 invasion of Ukraine.
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