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Shanghai aluminium hits two-year high, set for 7th weekly gain
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, ... (full story)