Aluminiumslides

Singapore: Aluminium prices slid for a third session on Monday as the market continued in correction mode after rallying last month on support from U.S. sanctions against Rusal, the world´s second-largest producer, and its major shareholder.

Three-month aluminium on the London Metal Exchange was down 0.4 percent at $2,278 a tonne by 0704 GMT. The most-traded aluminium contract on the Shanghai Futures Exchange fell 0.4 percent to 14,635 yuan ($2,308.47) a tonne.

LME prices for the light metal rallied to a seven-year high last month. "The market is looking to see how U.S. President Trump deals with the Russian situation," said Helen Lau, analyst, Argonaut Securities. "As in the past experiences, initially he is hard to deal with but later he is open to negotiations. If the Russian situation goes like that, then the upside potential in aluminium is limited."