BEIJING, April 23 (Reuters) - London aluminium prices rose
by as much as 1.6 percent on Monday as a rally driven by supply
concerns after the United States slapped sanctions on Russian
producer United Company Rusal regained momentum.
The metal had closed down in the previous two sessions but
is still up by around 25 percent so far this month.
FUNDAMENTALS
* LME ALUMINIUM: Three-month aluminium on the London Metal
Exchange climbed by 1.6 percent to $2,507.50 a tonne by
0155 GMT, after closing down 0.6 percent on Friday
* SHFE ALUMINIUM: The most-traded June aluminium contract on
the Shanghai Futures Exchange was down 0.4 percent to
14,970 yuan ($2,378) a tonne.
* RUSAL: Russian companies hit by U.S. sanctions, including
aluminium giant Rusal, have asked for 100 billion roubles ($1.6
billion) in liquidity support from the government, Finance
Minister Anton Siluanov was quoted by Interfax news agency as
saying on Friday.
* CHILE: Chilean copper commission Cochilco forecast on
Friday that Chile would produce 5.76 million tonnes of the red
metal in 2018, up 4.3 percent from 2017, while estimating copper
prices at $3.06 per pound this year.
* GREENLAND: With melting ice expanding access to the
Arctic, investors from China to Canada are watching Greenland's
election for signs of the political will to get a flagging
mining programme on the island back on track.
* COLUMN: Sanctions fever grips nickel as market rethinks
Russia risk: Andy Home.
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MARKETS NEWS
* Asian stocks started in muted fashion on Monday as
investors braced for a bevy of earnings from the world's largest
corporations, while keeping a wary eye on U.S. bond yields as
they approached peaks that had triggered ructions in the past.
