LONDON (Reuters) -The share of available aluminium stocks of Russian origin in warehouses registered with the London Metal Exchange slipped to 66% in June from 69% in May, while the share of Indian
Russian Aluminium Share in LME Warehouses Declines as Indian Metal Surges
LONDON (Reuters) -The share of available aluminium stocks of Russian origin in warehouses registered with the London Metal Exchange slipped to 66% in June from 69% in May, while the share of Indian origin climbed to 34% from 30%, LME data showed on Thursday.
The LME has banned metal produced in Russia after April 13, 2024 from its warehousing system to comply with U.S. and British sanctions imposed over Russia's 2022 invasion of Ukraine, but metal made before that date can still be traded.
Available aluminium stocks of Russian origin or those that are on warrant were little changed at 221,875 metric tons at the end of June. An LME warrant is a title document conferring ownership.
Stocks of India-made aluminium rose to 114,150 tons from 97,950 tons, the data showed.
For copper, the share of Russia-made metal in LME available stocks slipped to 53% last month from 54%, while the amount fell to 31,225 tons from 39,350.
The share of China-made copper was 42%, while the amount dropped to 24,900 tons from 30,825.
Nickel made in China represented 63% of available LME stocks at the end of last month, up from 59% in May.
(Reporting by Polina Devitt; Editing by Jan Harvey)
