Share of Russia’s aluminum stocks in LME warehouses slides to 66% in Sep
Views : 69
Update time : 2024-10-14 16:47:28
The proportion of aluminum stocks from Russia in London Metal Exchange (LME)-approved warehouses slightly dropped to 66% in September from 67% in the preceding month, while the proportion of Indian-origin aluminum grew by 1% to 32%.
On-warrant aluminum stocks in LME-registered warehouses hiked by 13% in September, which was the first increase after three consecutive months of decline.
As of September 30, Russian aluminum stocks in LME-registered warehouses were 258,525 tons.
On April 13, the US and the UK announced new restrictions on Russian aluminum, copper, and nickel over Russia’s invasion of Ukraine in 2022. Therefore, the stocks surged in May due to the new regulations.
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
