Three-month aluminium on the London Metal Exchange (LME) rose 1.3% to $2,669.50 a tonne after hitting $2,675.50, its highest since Nov. 25.
China’s economy grew 5% last year, in line with the government’s target, but growth was unbalanced, led by industry and exports. The outlook for China in 2025 remains uncertain with potential US tariffs from the new administration after President-elect Donald Trump takes office on Monday.
LME copper rose 0.3% to $9,258 a tonne after hitting $9,290, its highest since Dec. 11, extending gains into a 12th straight session. The contract is facing resistance from its 100-day moving average at $9,300.
A metals trader said the uptrend in both aluminum and copper has attracted buying from Commodity Trading Advisors (CTAs), funds that use computer models to track momentum.
Aluminium was also supported this week by concerns about tightening supplies to the European Union if the bloc bans imports from Russia.
In a sign of nearby supply concerns, the discount for LME cash to the three-month aluminium contract ended Thursday at $10.66, its lowest since October, compared with $43 a month ago.
Meanwhile, LME zinc rose 1.9% to $2,928, supported by a continued decline in inventories in LME registered warehouses. Total LME zinc stocks were at their lowest since February 2024.
Lead edged up 0.2% to $1,973.50 and tin rose 0.1% to $29,665.
Nickel fell 0.4% to $15,900 under pressure from rising LME inventories, hitting its highest since September 2021.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-18-1-tang-len-muc-cao-nhat-trong-nam-tuan.html
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