Vance's LME Monitor
LME Warehouse Ledger
305.9K mt on-warrant
Total stock: 305.9K mt
24h Change
-0.25%
7d Change
-1.4%
30d Change
+15.3%
Cancelled Warrants
Not tracked yet
metal queued for withdrawal
Off-Warrant Stock
Not tracked yet
privately stored metal
Warrant Coverage
—
needs off-warrant data
Data Feed
Live
Vance's LME Feed
All-Time High
388.5K mt
October 17, 2011 · current 21.3% below
All-Time Low
20.2K mt
February 6, 2023 · current 1414.2% above
Where Today Sits
91st percentile
of the 18-year daily record
Total Stock History
LME Lead total stock
March 16, 2026 to June 12, 2026
Source: London Metal Exchange official daily warehouse reports via Westmetall. Units: metric tonnes of total stock. Daily history back to 2008; long windows are downsampled to 500 plotted points.
How to Read This Data
On-Warrant Stock
Metal directly claimable against active futures contracts. This is the most liquid form of LME inventory and the focus of most squeeze analysis.
Off-Warrant Stock
Metal stored in LME-approved warehouses but not currently registered against a warrant. Represents potential supply that could re-enter the market.
Depletion Signals
Rapidly falling inventory alongside rising prices signals physical scarcity — a potential squeeze. Watch on-warrant levels closely near delivery dates.