According to data released by the London Metal Exchange (LME) on Wednesday, the proportion of available aluminium stocks of Russian origin in LME-approved warehouses remained unchanged at 91% in March, consistent with the previous month. This persistent high share of Russian-origin metal in LME inventories has raised concerns among certain producers, who compete with Russia’s Rusal 0486.HK, as well as some Western consumers who have been refraining from Russian metal following Moscow’s invasion of Ukraine in 2022.
The data also revealed that the quantity of Russian primary aluminium stocks on LME warrant decreased to 311,900 metric tons in March from 324,675 in February. Additionally, the share of Russian-origin copper stocks rose to 62% in March from 52% the previous month, with the amount of Russian copper in inventories increasing to 60,750 tons from 53,575. Similarly, the share of Russian nickel rose to 36% from 35%, with the quantity rising to 24,858 tons in March from 24,702 tons in February.