BEIJING, Jan 3 (Reuters) - Shanghai aluminium prices fell in early trade on Friday, having hit a more than two-week low under 14,000 yuan ($2,009.96) a tonne overnight on signs that stocks in top consumer China were rising again after a protracted drop over 2019. Chinese aluminium inventories <0#SMM-ALINV> climbed by 18,000 tonnes, or 3%, to 610,000 tonnes between Dec. 26 and Jan. 2, according to industry data provider SMM. The Shanghai Futures Exchange (ShFE) is due to report its own stocks data later on Friday. ShFE aluminium stockswere at 185,127 tonnes on Dec. 27 and fell more than 70% last year. Stocks tend to rise in the run-up to China's Lunar New Year holiday, which this year falls in late-January, as construction activity slows. FUNDAMENTALS * ALUMINIUM: The most-traded February aluminium contract on the ShFE fell as much as 1.1% in night-time trading to 13,960 yuan a tonne, its lowest since Dec. 17, and stood at 14,000 yuan, as of 0215 GMT. Three-month aluminium on the London Metal Exchange was down 0.3% at $1,800 a tonne. * ALUMINIUM: Chinese supply, meanwhile, continues to rise, with Henan Shenhuo Group putting its new smelter in Yunnan into production on Dec. 31. * ALCOA: U.S. aluminium producer Alcoa said it had agreed to sell its Gum Springs waste treatment facility in Arkansas to Veolia ES Technical Solutions for $250 million. The plant has traditionally processed spent potlining for the North American smelter industry. * OTHER METALS: London copper eked out a 0.1% rise to $6,196 a tonne, but the LME complex was broadly lower, with nickel losing 0.6%, lead down 0.5% and zinc falling 0.4%. ShFE copper slipped 0.4% to 49,030 yuan a tonne. * For the top stories in metals and other news, click or DATA/EVENTS AHEAD (GMT) 0700 UK Nationwide House Price MM, YY Dec 0745 France CPI (EU Norm) Prelim YY Dec 0855 Germany Unemployment Chg, Rate SA Dec 1300 Germany CPI Prelim YY Dec 1300 Germany HICP Prelim YY Dec 1500 US ISM Manufacturing PMI Dec 1900 US Federal Open Market Committee issues minutes from its meeting of December 10-11 PRICES BASE METALS PRICES 0215 GMT Three month LME copper 6194.5 Most active ShFE copper 49030 Three month LME aluminium 1800 Most active ShFE aluminium 14000 Three month LME zinc 2298 Most active ShFE zinc 17890 Three month LME lead 1910 Most active ShFE lead 14855 Three month LME nickel 14165 Most active ShFE nickel 110880 Three month LME tin 17150 Most active ShFE tin 135150 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc 450.2 3 LME/SHFE ALUMINIUM LMESHFALc -334.55 3 LME/SHFE ZINC LMESHFZNc -372.14 3 LME/SHFE LEAD LMESHFPBc -591.87 3 LME/SHFE NICKEL LMESHFNIc -2942.8 3 ($1 = 6.9653 Chinese yuan) (Reporting by Tom Daly, Editing by Sherry Jacob-Phillips)
Our Standards: The Thomson Reuters Trust Principles.