Sept 27 (Reuters) - Copper prices rose on Monday, as falling stockpiles in exchange warehouses in top consumer China and shortage of scrap metal boosted demand for refined copper.
Three-month copper on the London Metal Exchange rose 0.6% to $9,384.50 a tonne by 0257 GMT, while the most-traded October copper contract on the Shanghai Futures Exchange advanced 0.8% to 69,580 yuan ($10,760.55) a tonne.
ShFE copper inventories
Tighter restrictions and supply disruptions also limited supplies of scrap copper, forcing some users to switch to copper cathode for consumption.
Yangshan copper premium
FUNDAMENTALS
* LME nickel fell 1.5% to $19,090 a tonne, zinc declined 1.2% to $3,090 a tonne and aluminium eased 0.1% to $2,911.50 a tonne.
* ShFE aluminium dropped 1.2% to 22,910 yuan a tonne, nickel fell 0.8% to 144,320 yuan a tonne while lead rose 1.3% to 14,495 yuan a tonne.
* ShFE aluminium inventories
* Belgium-based Nyrstar has cut zinc production at its smelter in the Netherlands because of the rise in electricity prices in Europe, the company said in a statement.
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MARKETS NEWS
* Asian shares got off to a cautious start as a jump in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.
DATA/EVENTS (GMT)
1230 US Durable Goods Aug
($1 = 6.4662 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Ramakrishnan M.)