By visiting this site, you accept the use of cookies. More about our cookie policy.
Will call in 30 seconds. Free.

Stocks of aluminum on the London Metal Exchange reduced

10 March 2015

In mid-February of aluminum on the LME warehouses have reached a level of less than 4 million. Tons. This figure was registered for the first time since May 2009. Today the London Metal Exchange stocks up 3.993 million. Tons. In 2013 the amount of aluminum in warehouses reached a record 5.5 mln. Tons.

The specialists of «Rusal» believe that the volumes shipped to the LME aluminum will remain at around 7000 tonnes / day. In 2015, stocks exchanges will gradually be emptied. Aluminum market — excluding China — is in deficit in 2014, given the strong demand. Previously, analysts «RUSAL» predicted a shortage of metal at the level of 1.4 mln. Tons in 2014, not taking into account the PRC. Company representatives stressed that at the moment the release of storage volumes of aluminum does not affect the premium in either the US or the Asian market. Their level is record high.


London Metal Exchange solves the problem of congestion of its own stores, starting in the fall of 2013. During this period, the Board of Directors of the new rules were adopted. According to them, it shortens the life line for the shipment of alumina. Announced 100 days reduced to 50. «RUSAL» Corporation sharply reacted to the coming changes. The High Court in London had filed a claim, which resulted in the forced LME canceled the new rules. One of the points on which «Rusal» elicited disagreement were preliminary consultations, not including a risk analysis. Discontent caused and reducing the deadline queue from 100 to 50 days.

An appeal filed by the London Stock Exchange in response to the decision of the court 1st Instance was granted. However, the management of «Rusal», despite the decision of the Appeals Commission, stated that during the court proceedings in the aluminum market situation has changed radically. According to the company's new stock exchange rules will not have a significant impact on premiums or queue. Meanwhile, LME can enter them in the first half of 2015. In anticipation of the new rules LME opened a consultation period, during which the participants were able to express their own opinion about the exchange offers. Period lasted from November 7 last year to 7 February of this. One of the proposed measures of the London Stock Exchange is to limit the queue to 34x working days. This period corresponds to the average horizontal aluminum supply.

News Archive

Start date
End date

Our consultant will save your time

+7 (905) 233-21-42
E-mail:
Skype: sanatasun

Subscription

Special offers and discounts. :)