METALS-London aluminium falls for 5th day as Rusal fears ease


London aluminium fell by as much as 1.4 percent on Wednesday, retreating for a fifth straight session, as the softening of the U.S. sanctions on Russian producer United Company Rusal continued to weigh on prices. The metal has now slipped by around 13 percent from a high of $2,534.50 on April 23, the day the United States gave American customers of Rusal more time to comply with sanctions. FUNDAMENTALS * LME ALUMINIUM: Three-month aluminium on the London Metal Exchange was down by 1.4 percent to $2,196.50 a tonne by 0227 GMT, having closed down 3 percent on Tuesday. * SHFE ALUMINIUM: The most-traded June aluminium contract on the Shanghai Futures Exchange was up 0.1 percent at 14,435 yuan ($2,290.43) a tonne. * RUSSIA: Russia's En+ Group, owned by recently sanctioned businessman Oleg Deripaska, said its chief executive officer (CEO) and its chief financial officer (CFO) resigned on Tuesday, with replacements appointed to both posts. * FREEPORT: Shares of Freeport-McMoRan Inc fell more than 14 percent on Tuesday after the miner revealed onerous environmental demands from Indonesia's government that could delay a new contract for its massive Grasberg copper mine. * CUBA: Cuba forecasts nickel plus cobalt sulfide production will exceed 50,000 tonnes this year even as prices rise, the head of the country’s state monopoly Cubaniquel was quoted by local media as stating on Tuesday. For the top stories in metals and other news, click or MARKETS NEWS * Asian shares were under pressure on Wednesday, with a rise in U.S. bond yields above the 3 percent threshold and warnings from bellwether U.S. companies of higher costs driving fears that corporate earnings growth may peak soon. {MKTS/GLOB] DATA AHEAD (GMT) 0645 France Consumer confidence Apr PRICES BASE METALS PRICES 0244 GMT Three month LME copper 6979 Most active ShFE copper 51660 Three month LME aluminium 2204 Most active ShFE aluminium 14430 Three month LME zinc 3224 Most active ShFE zinc 24445 Three month LME lead 2324.5 Most active ShFE lead 18290 Three month LME nickel 14140 Most active ShFE nickel 103560 Three month LME tin 21075 Most active ShFE tin 146470 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 408.5 LME/SHFE ALUMINIUM LMESHFALc3 -1703.56 LME/SHFE ZINC LMESHFZNc3 251.85 LME/SHFE LEAD LMESHFPBc3 455.05 LME/SHFE NICKEL LMESHFNIc3 -1599.24 ($1 = 6.3023 Chinese yuan)