Debasis Mohapatra
Bengaluru, 3 July 2025
Aluminium inventory is running at multi-month low level since January 2025 at London Metal Exchange as users stock the metal before the US tariffs kicks up.
Aluminium inventory level at LME:
| Date | LME Aluminium Stock |
| 2nd July 2025 | 356,625 tonne |
| 1st July 2025 | 348,625 tonne |
| 30th June 2025 | 345,750 tonne |
| 27th June 2025 | 345,200 tonne |
| 26th June 2025 | 336,900 tonne |
Monthly average of aluminium stock:
| Month | LME Aluminium Stock in tonne |
| June 2025 | 352,656 |
| May 2025 | 394,876 |
| April 2025 | 439,216 |
| March 2025 | 494,414 |
| February 2025 | 554,008 |
| January 2025 | 609,380 |
(Source: Westmetall)
Insights:
- Users in US and Europe are stocking aluminium proactively before the tariff by US administration kicks up.
- For Indian users, it means that price of rod, and scraps will remain elevated in the secondary market.
- MCX Aluminium prices are likely to be in the range of 248-252, according to SMC Global.
