MELBOURNE, April 13 (Reuters) - London aluminium slipped on
Friday but was on track for its biggest weekly gain on record
after the United States imposed sanctions on Russia's UC Rusal,
the world's second biggest producer of the metal.
FUNDAMENTALS
* London Metal Exchange aluminium fell by 1.5
percent to $2,290.50, trimming gains for the week that were
still approaching 14 percent. Prices topped out at $2,325 a
tonne on Thursday which was a six-year high.
* COPPER: LME copper edged up by 0.1 percent to
$6,830.50 a tonne by 0203 GMT, adding to 1.9 percent drop from
the previous session. Prices have support at the 200-day moving
average of $6,743. Shanghai Futures Exchange copper
eased by 0.7 percent to 50,520 yuan ($8,031.29) a tonne.
* CHINA TRADE: China's commerce ministry said on Thursday
trade negotiations with the United States would be impossible as
Washington's attempts at dialogue were not sincere, and vowed to
retaliate if U.S. President Donald Trump escalates current
tensions.
* US TRADE: President Donald Trump said on Thursday that the
trade "negotiations" between Washington and Beijing were going
well, conflicting with Chinese official statements on the
dispute.
* RUSAL: U.S. sanctions on Russian businesses and
individuals are hitting companies including aluminium giant
Rusal controlled by tycoon Oleg Deripaska and
triggering responses across markets.
* US ALUMINIUM STOCKS: Almost all the aluminium in the
United States was removed from Comex warehouses this week, as
consumers scramble to stock up ahead of the sanctions on the
world' second biggest aluminium maker, Rusal, that is expected
to crimp supply. Stocks tumbled by about 44,000 tonnes to 11,168
tonnes. AL-TTLTTDY-STX
* SCRAMBLE: The rush for stocks was also reflected in time
spreads on the LME with soaring prices for cash aluminium
against the benchmark three-month contract. Cash aluminium
traded $52 against three months, the highest in more than a
decade. CMAL0-3
* POLLUTION: In what could potentially help U.S. aluminium
makers boost production more quickly, U.S. President Donald
Trump on Thursday ordered the Environmental Protection Agency to
speed up its decision-making on air quality permitting to make
it easier for manufacturers to expand and open new plants.
