LME aluminium cancelled warrants surged 32,000 tonnes to June highs, the biggest jump since January. On-warrant stocks fell, total inventories edged higher, and prices hit $2,625/t. Get easy insights, data table, and FAQs by Neal Bhai.
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- 1 Aluminium activity on the London Metal Exchange (LME) picked up strongly.
- 2 📊 LME Aluminium Cancelled Warrants Data Table
- 3 ❓FAQs on LME Aluminium Update
- 3.1 Q1. What are cancelled warrants?
- 3.2 Q2. Why did cancelled warrants rise so much?
- 3.3 Q3. Does this mean aluminium demand is strong?
- 3.4 Q4. What happened to on-warrant stocks?
- 3.5 Q5. Why did aluminium prices rise to $2,625/t?
- 3.6 Q6. How much did total inventories change?
- 3.7 Q7. What does 54% vs 9% mean in cancelled warrants?
- 3.8 Q8. Who reported this data?
- 3.9 Q9. Is aluminium price likely to rise further?
- 3.10 Q10. Why is this important for investors?
Aluminium activity on the London Metal Exchange (LME) picked up strongly.
- Cancelled warrants (requests to take metal out of LME warehouses) went up by 32,000 tonnes, reaching 42,850 tonnes — the highest since June 2025.
- This was also the biggest daily jump since January 2025.
- Most of these cancellations came from Malaysian warehouses.
👉 But here’s the catch:
- Cancelled warrants are still only 9% of total stock, far less than 54% earlier this year.
- This shows demand for physical aluminium is still weak.
Meanwhile:
- On-warrant stocks (metal available for trading) fell by 31,400 tonnes to 442,425 tonnes.
- Total inventories slightly rose by 600 tonnes to 485,275 tonnes (highest since March 2025).
- Aluminium price on the LME touched $2,625 per tonne after the surge in withdrawals.
📊 LME Aluminium Cancelled Warrants Data Table
| Category | Latest Update | Change | Note |
|---|---|---|---|
| Cancelled Warrants (Tonnes) | 42,850 | +32,000 | Highest since June 2025 |
| Share of Total Inventories (%) | 9% | Down from 54% | Weak physical demand |
| On-Warrant Stocks (Tonnes) | 442,425 | -31,400 | Sharp fall |
| Total Inventories (Tonnes) | 485,275 | +600 | Highest since March 2025 |
| Aluminium Price (LME 3M, $/Tonne) | $2,625 | Firmed Up | Driven by cancellations |
❓FAQs on LME Aluminium Update
Q1. What are cancelled warrants?
Cancelled warrants mean someone wants to take aluminium out of LME warehouses.
Q2. Why did cancelled warrants rise so much?
Mostly because of large withdrawal requests from Malaysian warehouses.
Q3. Does this mean aluminium demand is strong?
Not really. Cancelled warrants are still just 9% of total stock, much lower than earlier this year.
Q4. What happened to on-warrant stocks?
They fell sharply by 31,400 tonnes, showing metal is leaving warehouses.
Q5. Why did aluminium prices rise to $2,625/t?
Because cancellations usually signal more demand, so traders pushed prices up.
Q6. How much did total inventories change?
They rose slightly by 600 tonnes, reaching the highest since March 2025.
Q7. What does 54% vs 9% mean in cancelled warrants?
At the start of 2025, more than half of the stock was being cancelled, but now it’s just 9%, showing demand is weaker.
Q8. Who reported this data?
ING commodity experts Ewa Manthey and Warren Patterson shared the insights.
Q9. Is aluminium price likely to rise further?
Prices may stay firm if cancellations continue, but weak demand limits big rallies.
Q10. Why is this important for investors?
It helps traders and investors understand supply-demand balance and make smart decisions in aluminium markets.