METALS-Aluminium hits 13-year peak on China and Guinea supply fears

(Updates prices)

By Mai Nguyen

Sept 9 (Reuters) - Aluminium prices hit a more than 13-year high on Thursday, as output curbs in top consumer China and fears of disruption from major bauxite producer Guinea lifted sentiment.

Three-month aluminium on the London Metal Exchange (LME) advanced as much as 1.9% to $2,848 a tonne, its highest since August 2008.

The most-traded October aluminium contract on the Shanghai Futures Exchange jumped as much as 3.2% to 22,535 yuan ($3,488.07) a tonne, the highest level since March 2008, before closing at 22,475 yuan a tonne, still up 3%.

Output curbs in China, the top global aluminium producer, have weighed on stockpile availability while political turmoil in Guinea, China's largest supplier of bauxite, added to the nervousness.

"Political unrest in Guinea has significantly raised the risk of disruption. At the same time, power shortages and environmental measures are restricting output in China," ANZ analysts said in a note.

"Together, these issues are likely to support aluminium prices in the short term," they added, forecasting a global deficit of 750,000 tonnes this year.


* ShFE nickel hit a record 152,500 yuan a tonne, while LME nickel touched its highest since May 2014 at $20,255, buoyed by low inventories and expected demand from the stainless steel and electric vehicle sectors.

* LME copper advanced 1.6% to $9,392 a tonne by 0720 GMT, with LME tin up 1.4% at $32,599. ShFE copper rose 0.5% to 69,300 yuan a tonne and ShFE tin climbed 2.3% to 250,740 yuan.

* Indonesian tin miner PT Timah expects global tin prices to stay above $30,000 a tonne for the rest of the year, finance director Wibisono said on Wednesday, citing low inventories.

* For the top stories in metals and other news, click or ($1 = 6.4606 yuan) (Reporting by Mai Nguyen in Hanoi Editing by Rashmi Aich and David Goodman )

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.