Shanghai aluminium, copper move higher

ShFE copper edged up 0.2 percent to 50,810 yuan ($7,730) on Wednesday while Shanghai Aluminium Futures Exchange, prices ended up 3.4 percent on prospects that China's winter production cuts are starting early and will soon pare back stocks of available metal. "For aluminium, certainly this (rally) is related to China's winter production cuts," said analyst Helen Lau at broker Argonaut Securities in Hong Kong.
China's aluminium production last month fell to the lowest since April 2016 at 2.64 million tonnes. China has launched an aggressive campaign to curb choking smog in its northern regions, mandating a slew of output cuts by the steel and aluminium producers. Aluminium makers must cut capacity by more than 30 percent across 28 cities.