This marginal inventory drawdown, coupled with a reduction in Russian metal's proportional share, suggests that the outflow has primarily affected Russian-origin material, while non-Russian nickel stocks have remained relatively stable or increased slightly.
For precise trading strategies or inventory analysis, it is recommended to monitor LME's official monthly reports for further confirmation of these trends.
Latest updates
The share of Russian copper in LME (London Metal Exchange) inventories has recently shown a downward trend. According to early April 2026 data, the proportion has fallen to approximately 50%.
This change is primarily attributed to fluctuations in market acceptance of sanctioned metals, adjustments in global trade flows, and inventory structure reorganization. Despite the decline in share, Russian copper remains a significant component within the LME system in absolute volume terms. For more precise inventory tonnage and daily movements, it is advisable to refer to the official monthly reports published by the LME.
As of April 2026, the share of Russian copper in London Metal Exchange (LME) warehouses has decreased to approximately 50%, reflecting ongoing adjustments in global metal trade flows and inventory structure.
This change may be attributed to geopolitical factors, shifts in market acceptance of Russian metals, and previous LME delivery policies. From a macroeconomic perspective, the decline in share often intensifies competition for non-Russian copper supply, potentially providing support for regional spot premiums. However, for specific changes in inventory tonnage and details of the Commitments of Traders reports published by the U.S. Commodity Futures Trading Commission (CFTC) or the LME during the same period, it is advisable to refer to the official monthly data released by the exchanges.
