Although the proportion increased, the volume of stocks continued to drop, amounting to 254,500 tonnes at the end of November, as LME-registered warehouses still restrict aluminium-made-in-Russia.
On the other hand, India-origin aluminium stocks remained stable in LME warehouses at 120,000 tonnes, with a proportion increased to 32 per cent from the previous 30 per cent.
Amid this assorted trend, the total on-warrant aluminium stocks on LME dropped by 6 per cent to 380,400 tonnes, reflecting a shift in trade dynamics and weaker commodity inflow due to the ongoing compliance measures and geopolitical factors.
Regarding copper and nickel inventories on LME, China dominated with its 54 per cent and 42 per cent share of the total stocks, compared to 19 per cent of Russian stocks. These developments highlight the shifting market shares in response to sanctions and trade adjustments.
