Copper rises, aluminum hits 3-week high on Chinese supply concern

Aluminum prices hit a three-week high on Friday after China’s alumina production fell last month, highlighting the risk of tight supply due to power shortages, while copper rose slightly.

Three-month aluminum on the London Metal Exchange (LME) was up 2.2% at $ 2,725 a tonne as of 1100 GMT, its highest since Nov. 26.

Chinese production of alumina – which is smelted to make aluminum – fell 4.5% year-on-year in November to its low in 18 months, official data showed on Friday.

China aims to reduce its carbon production by restricting electricity consumption and production in energy-intensive industries such as alumina refining and aluminum smelting.

In other base metals, copper, Peru’s main export product, improved 0.1% to US $ 9,514.

Zinc on the LME was up 0.3% to $ 3,430.50 a ton, nickel was up 0.9% to $ 19,795, lead was up 0.8% to $ 2,325.50 and tin was up 0.9%. 1.6% to US $ 39,310.