Shanghai aluminium rose on Friday to its highest in nearly two years, as funds pumped money into commodities including metals to hedge against rising inflation.
The most-traded June aluminium contract on the Shanghai Futures Exchange was up 1.6% at 20,730 yuan ($2,864.64) a metric ton as of 0539 GMT.
The contract hit 20,740 yuan earlier in the session, the highest since April 2022, and was set for a seventh straight weekly gain.
Three-month aluminium on the London Metal Exchange (LME) advanced 1.1% to $2,482 a ton and was set for a fifth straight weekly gain. US consumer prices increased more than expected in March, raising the need for funds to get hold of hard assets.
LME zinc climbed 2.1% to $2,817 a ton. It hit the highest since April last year at $2,823.50 earlier in the session. SHFE zinc was set for a ninth straight daily gain, up 1.7% at 23,030 yuan.
The contract was up 8.4% on a weekly basis, on track for its biggest weekly gain since October 2021.
LME copper rose 0.9% to $9,424.50 a ton, nickel advanced 0.4% to $17,880 and lead increased 1% to $2,165.
SHFE copper was up 0.6% at 76,670 yuan a ton, lead advanced 0.1% at 16,740 yuan, while nickel fell 1.2% to 138,260 yuan.
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Tin prices were supported by uncertainty over supply from major producer Myanmar, where tin mining in a major producing region remains suspended.
LME tin was up 11.4% on a weekly basis at $32,065, set for the biggest weekly gain since January 2023.
SHFE tin has risen 10.1% so far this week, on track for the best week since April last year.
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