Oct 13 (Reuters) - Shanghai aluminium prices rose on Tuesday
to their highest in two-and-a-half years, as low inventories in
exchange warehouses and a smelter curtailment in Spain fuelled
worries about supply.
The most-traded November aluminium contract on the Shanghai
Futures Exchange climbed as much as 1.4% to 14,690 yuan
($2,174.78) a tonne, its highest since April 2018.
Three-month aluminium on the London Metal Exchange
fell 0.3% to $1,850.50 a tonne by 0226 GMT. The contract touched
its highest since July 2019 of $1,856.50 a tonne on Monday.
U.S. aluminium producer Alcoa said it would curtail
operation of its San Ciprian smelter in Spain, while aluminium
inventories in LME-approved warehouses <MALSTX-TOTAL> hovered
around their five-month low at 1.4 million tonnes.
Aluminium stockpiles in ShFE warehouses <AL-STX-SGH> were
last at 227,938 tonnes, edging up from a two-month low at the
end of September but still lower than half of the 2020 peak of
533,994 tonnes hit in March.
* Cathode output of 22 Chinese copper smelters in September
rose 3% from August to 747,100 tonnes, as large producers were
unaffected by maintenance, research house Antaike said.
* LME copper fell 0.6% to $6,697 a tonne and lead
declined 1% to $1,828 a tonne, while ShFE copper
rose 0.2% to 51,400 yuan a tonne and nickel
increased 0.3% to 116,790 yuan a tonne.
* For the top stories in metals and other news, click
* Asian stocks were set to rise as a renewed tech rally and
fresh optimism that Washington would deliver a coronavirus
relief package helped lift global equity markets.
DATA/EVENTS AHEAD (GMT)
0430 US IMF/World Bank to release their biannual
Global Financial Stability Report
0600 Germany HICP Final YY Sept
0600 UK Claimant Count Unemployment Sept
0600 UK ILO Unemployment Rate Aug
0900 Germany ZEW Economic Sentiment Oct
0900 Germany ZEW Current Conditions Oct
1230 US CPI MM, SA Sept
1230 US International Monetary Fund and Group of 24
officials conduct press briefings on global
economic outlook and financial stability
($1 = 6.7547 yuan)
(Reporting by Mai Nguyen; Editing by Subhranshu Sahu)