Russian aluminium dominates LME stocks as share hits 95% in June

The proportion of Russian-origin aluminium held in London Metal Exchange (LME) warehouses climbed to 95% in June, up from 93% the previous month.

This surge in market share occurred even as the absolute volume of available Russian stocks in London fell by 3,150 tons to 234,025 tons, according to data reported by Brecorder.

The rising concentration highlights the structural shift in global aluminium flows following Western sanctions.

While total Russian inventory in London has contracted, its dominance within the remaining pool suggests that non-Russian supply has retreated more sharply or that Russian metal is being rerouted through intermediaries to maintain access to Western pricing benchmarks.

For traders and industrial buyers, the near-monopoly of Russian metal in LME stocks complicates compliance efforts.

Companies seeking to avoid sanctioned origins must increasingly look outside London warehouses, potentially turning to Asian exchanges or direct physical contracts, which may carry different pricing premiums or logistical hurdles.