en.Wedoany.com Reported - Data released by the London Metal Exchange (LME) on July 10, 2026, shows that in June 2026, the share of Russian-origin aluminum in LME registered warehouse available stocks further increased to 95%, up from 93% in May. This rise was primarily driven by a significant withdrawal of Indian aluminum stocks, rather than an absolute increase in Russian aluminum stocks.

The data indicates that by the end of June, LME available aluminum stocks (i.e., registered warrant stocks) fell to 246,600 tonnes, the lowest level since April 2025. Among these, Russian aluminum stocks decreased by 3,150 tonnes to 234,000 tonnes. Due to a larger reduction of 4,875 tonnes in Indian aluminum stocks, the share of Russian aluminum actually increased. By the end of June, only 12,575 tonnes of Indian-origin aluminum remained in LME warehouses for delivery, with no aluminum stocks from other countries.

This imbalance in stock structure stems from new sanctions imposed by the UK and the US on Russian metals in April 2024. These sanctions prohibit Russian aluminum, copper, and nickel produced after April 13, 2024, from entering the LME delivery system. However, Russian metals produced before this date remain tradable, allowing large quantities of older-specification Russian aluminum to continue being stored in LME warehouses.

Meanwhile, many traders and end-users have persistently avoided purchasing Russian aluminum to mitigate sanctions risks. This situation of "stocks being difficult to utilize" has further exacerbated the tightness of freely available non-Russian aluminum spot supplies in Western markets. According to market data, the actual freely circulating non-Russian aluminum in Western markets amounts to only about 22,000 tonnes. The severe imbalance in LME stock structure, combined with supply disruptions in the Middle East, has had a sustained impact on spot liquidity and pricing mechanisms in the global aluminum market.