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The London Metal Exchange (LME) reported a significant shift in the global aluminum market, with the share of Russian-origin aluminum stocks in LME warehouses dropping sharply to 42% in May from a dominant 89% in April. At the same time, aluminum stocks of Indian origin surged to occupy 50% of the stocks, marking a significant rise from the previous 9%.

This redistribution underscores the evolving dynamics of global metal trade, potentially influenced by geopolitical factors. The decrease in Russian aluminum's presence could indicate broader market adjustments or regulatory impacts, while India's increased share highlights the country's expanding role in the global aluminum supply chain.

The LME's decision to prohibit all Russian aluminum, copper, and nickel from April 13, in compliance with the US and UK sanctions over the Russia-Ukraine geopolitical crisis, has led to a significant shift in stock levels.