(Adds Shanghai closing prices, updates London prices) BEIJING, April 23 (Reuters) - London aluminium prices rose by as much as 1.7 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. Most other base metals also rose but London nickel fell by as much as 2.2 percent, continuing its retreat from a three-year high of $16,690 a tonne seen on April 19 as fears of additional sanctions eased. "In general it seems that the markets and indeed its participants all coped with the 'storm' and now it is a case of letting the prices find a new level at which they are comfortable," Malcolm Freeman, CEO of Kingdom Futures, wrote in a note. However, the possibility of Germany going into a recession may well see prices "testing the downside once again," he added. FUNDAMENTALS * LME ALUMINIUM: Three-month aluminium on the London Metal Exchange was up 1 percent at $2,492.5 a tonne by 0709 GMT and touched an intraday high of $2,510.50 a tonne. On April 19, the metal hit a seven-year high of $2,718. * SHFE ALUMINIUM: The most-traded June aluminium contract on the Shanghai Futures Exchange ended flat at 15,035 yuan ($2,389.12) 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. * NICKEL: The Philippines is planning to limit the amount of land that miners can develop at any one time to boost environmental rehabilitation, a move that miners say may cut output of nickel ore in last year's top supplier to China. * 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. * COLUMN: Sanctions fever grips nickel as market rethinks Russia risk: Andy Home. * For the top stories in metals and other news, click or MARKETS NEWS * Asian stocks dipped 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 approach peaks that have triggered market spasms in the past. PRICES BASE METALS PRICES 0708 GMT Three month LME copper 7019 Most active ShFE copper 51860 Three month LME aluminium 2500 Most active ShFE aluminium 15040 Three month LME zinc 3247 Most active ShFE zinc 24495 Three month LME lead 2344.5 Most active ShFE lead 18435 Three month LME nickel 14600 Most active ShFE nickel 104920 Three month LME tin 21610 Most active ShFE tin 148080 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 410.95 LME/SHFE ALUMINIUM LMESHFALc3 -3267.45 LME/SHFE ZINC LMESHFZNc3 152.47 LME/SHFE LEAD LMESHFPBc3 433.24 LME/SHFE NICKEL LMESHFNIc3 -3712.01 ($1 = 6.2931 Chinese yuan) (Reporting by Tom Daly; editing by Richard Pullin and Gopakumar Warrier)
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