LME benchmark up ~17% since April; U.S. Midwest premium jumped 177% amid rising demand and tightening supply.
👉 Source: Financial Times

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The quantity stored in that global network is about half of what it was a year ago. As at the end of August, about half of the metal being stored is of Russian origin, according to the latest LME data.

Some buyers have sought to avoid the country’s commodities exports since its invasion of Ukraine, but analysts say it is helping meet Chinese demand for the metal.

“Russian aluminium is increasingly finding a new home in China,” said Neil Welsh, head of metals at Britannia Global Markets.

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