METALS-Aluminium at more than 10-year high as supply worries grow
Sept 2 (Reuters) - Aluminium prices hit a more than 10-year high on Thursday on concerns over supply of the energy-intensive metal, which were stoked further as several power plants in India were on the verge of running out of coal.
Benchmark three-month aluminium on the London Metal Exchange CMAL3 was up 1.1% at $2,720 a tonne, as of 0334 GMT, after touching $2,732.50 earlier in the session, its highest since May 2011.
The most-traded October aluminium contract on the Shanghai Futures Exchange SAFcv1 climbed 1.1% to 21,400 yuan ($3,312.18) a tonne. It hit a 13-year peak of 21,550 yuan on Monday, as production curbs in key Chinese smelting regions sparked fears of tight supply.
India, the second-biggest producer of primary aluminium after China, urged utilities to import coal to boost domestic supply of the fuel as coal-fired generation surged after an easing of coronavirus-related curbs.
The inadequate coal supply in India has raised concerns about a potential disruption in local aluminium production.
* Three-month LME copper CMCU3 rose 0.5% to $9,384 a tonne, while Shanghai's most-active October copper contract SCFcv1 fell 0.7% to 69,090 yuan a tonne.
* Top metals consumer China released another 150,000 tonnes of state metal inventories to the market on Wednesday, completing a third round of auctions so far this year as it aims to ease the pressure of high commodity prices on businesses.
* For the top stories in metals and other news, click TOP/MTL or MET/L
* Asian share markets were in a cautious mood on Thursday as concerns grew over the Chinese economy after a run of soft data, while the risk of a subpar U.S. payrolls report kept the dollar on the defensive. MKTS/GLOB
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Three month LME copper CMCU3
Most active ShFE copper SCFcv1
Three month LME aluminium CMAL3
Most active ShFE aluminium SAFcv1
Three month LME zinc CMZN3
Most active ShFE zinc SZNcv1
Three month LME lead CMPB3
Most active ShFE lead SPBcv1
Three month LME nickel CMNI3
Most active ShFE nickel SNIcv1
Three month LME tin CMSN3
Most active ShFE tin SSNcv1
($1 = 6.4610 Chinese yuan)
(Reporting by Enrico Dela Cruz in Manila; Editing by Shounak Dasgupta)
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