Vance's LME Monitor
LME Warehouse Ledger
274.9K mt on-warrant
Total stock: 274.9K mt
24h Change
+0.29%
7d Change
+0.26%
30d Change
-0.30%
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
1.68M mt
June 17, 2019 · current 83.6% below
All-Time Low
26 mt
April 10, 2012 · current 1057353.8% above
Where Today Sits
75th percentile
of the 18-year daily record
Total Stock History
LME Nickel 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.