SINGAPORE, July 30 (Reuters) - Shanghai aluminium prices rose to their highest level in more than two years as lower inventories in top consumer China underscored the metal's solid demand.

The most-traded September aluminium contract on the Shanghai Futures Exchange climbed as much as 2.1% to 14,765 yuan ($2,110.19) a tonne, its highest since April 2018.

On the London Metal Exchange, three-month copper rose 0.2% to $1,728.50 a tonne by 0215 GMT.

FUNDAMENTALS

* ALUMINIUM STOCKS: Inventories in ShFE warehouses were last at 222,498 tonnes, a 58%-drop from the 2020 peak in March, but LME aluminium stockpiles were hovering around their highest level since April 2017.

* CHINA: Domestic aluminium prices rose to a two-week high of 14,780 yuan a tonne. The prices hit their highest since November 2017 on July 13 at 15,320 yuan a tonne.

* COVID-19: Surging cases of COVID-19 hit sentiment as the prospect of a sustainable global economic recovery remained unclear.

* OTHER METALS: LME copper eased 0.1% to $6,469 a tonne, while ShFE copper was nearly flat at 51,780 yuan a tonne. ShFE zinc jumped 2.3% to 18,800 yuan a tonne and nickel advanced 1.8% to 111,470 yuan a tonne.

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MARKETS NEWS

* Asian stocks were set to track an upbeat Wall Street session after the Federal Reserve kept interest rates at ultra-low levels, while the U.S. dollar fell to a two-year low.

DATA/EVENTS (GMT)

0755 Germany Unemployment Chg, Rate SA July

0800 Germany GDP Flash QQ SA Q2

0800 Germany GDP Flash YY NSA Q2

0900 EU Consumer Confid Final July

0900 EU Unemployment Rate June

1200 Germany CPI Prelim YY July

1200 Germany HICP Prelim YY July

1230 US GDP Advance Q2

1230 US Initial Jobless Claims Weekly

($1 = 6.9970 yuan) (Reporting by Mai Nguyen; editing by Uttaresh.V)