- LME aluminium stocks hit one-year low
- Indian inventories fall to two-year low
Metal Intelligence Centre: Aluminium inventories held in London Metal Exchange (LME) warehouses declined sharply in May 2026, falling to 254,625 mt, the lowest level since April 2025. The drawdown reflects tightening global supply conditions amid production and logistical constraints in the Middle East, which have reduced the availability of metal in the physical market.
The decline was largely driven by significant withdrawals of Indian-origin aluminium. According to the LME’s monthly country-of-origin report, 71,750 mt of Indian aluminium was withdrawn from exchange warehouses during the month. As a result, inventories of Indian brands dropped to 17,450 mt, their lowest level in two years.
Stocks of Russian-origin aluminium also continued to decline, standing at 237,175 mt at the end of May, the lowest level since August 2025. The reduction reflects restrictions on Russian metal within the LME system.
Despite the fall in Russian inventories, the share of available Russian-origin aluminium in LME warehouses increased to 93% in May from 72% in April. This shift was primarily due to the substantial withdrawal of Indian metal, leaving Russian and Indian brands as the only remaining origins in the exchange’s aluminium stocks.
Note: This article has been published as part of a content partnership between MIC and BigMint.
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