LONDON: Aluminium prices rose on Friday to the highest in almost eight weeks, while copper hit a five-week high as strong economic data from top metals consumer China attracted momentum-following funds and set aside uncertainty over potential U.S. tariffs.

Three-month aluminium on the London Metal Exchange (LME) was up 1.3% at $2,669.50 per metric ton by 1106 GMT after hitting $2,675.5, its highest since Nov. 25.

China’s economy grew 5% last year, matching the government’s target, but growth was unbalanced, led by industry and exports. The 2025 outlook for China remains uncertain with potential U.S. tariffs from the new administration in the U.S. after President-elect Donald Trump takes office on Monday.

LME copper rose 0.3% to $9,258 a ton after hitting $9,290, its highest since Dec. 11, and extending growth to the 12th consecutive session. The contract is facing resistance from the 100-day moving average at $9,300.

The upper trend in both aluminium and copper attracted buying from Commodity Trading Advisors (CTAs), funds that use computer models to track momentum, said a metals trader.

EU sanctions threat on Russian metal supports aluminium price

Aluminium has also been supported this week by concerns about tightening supply to the European Union if the bloc bans imports from Russia.

In a sign of concern about nearby supplies, the discount for the LME cash against the three-month aluminium contract ended Thursday at $10.66, lowest since October, compared with $43 a month ago.

Meanwhile, LME zinc gained 1.9% to $2,928 supported by continuing decline of inventories in the LME-registered warehouses. LME zinc total stocks were at the lowest since February 2024.

Lead edged up 0.2% to $1,973.50 and tin added 0.1% to $29,665.

Nickel fell 0.4% to $15,900 under pressure from rising LME stocks, which hit the highest since September 2021.