Aluminium hits one-month low

LONDON, Feb 26 (Reuters): Aluminium prices hit a one-month low on Monday after inventories in Shanghai jumped and the United States did not impose sanctions on Russian metal.
Benchmark aluminium on the London Metal Exchange rose 0.3 per cent to $8,495 a metric ton by 1105 GMT from an earlier $2,175, its lowest since Jan. 23. It hit a three-week high last week in anticipation of a US package of sanctions against Russia, including metals.
Aluminium stocks in warehouses monitored by the Shanghai Futures Exchange jumped 65.6 per cent last week to the highest since last May at 173,482 tons.
Nickel inventories in ShFE warehouses rose 11 per cent to at 17,758 tons for the highest level since December 2020.