HANOI, May 6 (Reuters) - Aluminium prices rose on Thursday, as a fall out between China and Australia raised concerns of supply shortages from one of the world's biggest producers.
Three-month aluminium on the London Metal Exchange rose 0.6% to $2,460 a tonne by 0325 GMT, while the most-traded June aluminium contract on the Shanghai Futures Exchange advanced 2% to 19,260 yuan ($2,971.95) a tonne.
China's state economic planner said it has "indefinitely" suspended all activities under the China-Australia Strategic Economic Dialogue, amid strained relations between Beijing and Canberra.
China is a top consumer of refined aluminium, while Australia is a major producer of raw materials bauxite and alumina.
FUNDAMENTALS
* LME copper edged up 0.3% to $9,979.50 a tonne, nickel dropped 1.4% to $17,655 a tonne while ShFE nickel jumped 2.1% to 131,850 yuan a tonne, ShFE copper climbed 1.3% to 72,970 yuan a tonne and ShFE tin advanced 2.7% to 197,290 yuan a tonne.
* Global copper smelting rebounded in April from the lowest levels in at least five years in the previous month as a price rally spurred more activity, data from satellite surveillance of copper plants showed.
* Investment flows into commodity funds so far this year have hit a record high, bolstered by a recovery in global economic activity and stimulus measures from governments around the world.
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MARKETS NEWS
* Asian shares rose and commodity prices held near multi-year highs, as investors switched to cyclicals amid hopes of a strong economic recovery, while the Australian dollar fell after China said it would end economic dialogue with Canberra.
DATA/EVENTS (GMT)
0600 Germany Industrial Orders MM March
0600 UK Reserve Assets Total April
1100 UK BOE Bank Rate May
1100 UK GB BOE QE Corp May
1230 US Initial Jobless Clm Weekly
($1 = 6.4806 yuan) (Reporting by Mai Nguyen; Editing by Rashmi Aich)
