The aluminum inventory data released by the London Metal Exchange (LME) shows that the proportion of Russian aluminum inventory in LME warehouses increased significantly in February, while Indian aluminum inventory declined. Meanwhile, the waiting time for loading at ISTIM’s warehouse in Gwangyang, South Korea has also been shortened.

 
According to LME data, the inventory of Russian aluminum in LME warehouses reached 75% in February, a significant increase from 67% in January. This indicates that in the near future, the supply of Russian aluminum has significantly increased, occupying the dominant position in LME aluminum inventory. As of the end of February, the warehouse receipt quantity of Russian aluminum was 155125 tons, slightly lower than the level at the end of January, but the overall inventory level is still very large. It is worth noting that some Russian aluminum inventories have been cancelled, indicating that these aluminum will be withdrawn from LME’s warehouse system in the future, which may have a profound impact on the supply and demand balance of the global aluminum market.

In sharp contrast to the surge in Russian aluminum inventory, there has been a significant decline in Indian aluminum inventory in LME warehouses. The data shows that the available share of aluminum in India decreased from 31% in January to 24% at the end of February. In terms of specific quantity, as of the end of February, the inventory of aluminum produced in India was 49400 tons, accounting for only 24% of the total LME inventory, far lower than the 75225 tons at the end of January. This change may reflect an increase in domestic aluminum demand in India or an adjustment in export policies, which has had a new impact on the supply and demand pattern of the global aluminum market.

In addition, LME data also shows that the waiting time for loading at ISTIM’s warehouse in Gwangyang, South Korea has been reduced from 81 days to 59 days at the end of February. This change indicates an improvement in the operational efficiency of the warehouse or an increase in the speed of aluminum outbound. For market participants, reducing queue time may mean a decrease in logistics costs and an improvement in transaction efficiency, which can help promote the circulation and trading activity of the aluminum market.