Shanghai zinc, aluminium prices jump over 2% on supply concerns

Dec 23 (Reuters) - Zinc and aluminium futures in China advanced on Thursday, underpinned by worries about supply, while easing concerns about the Omicron coronavirus variant and upbeat U.S. economic data pushed copper prices higher.

Zinc's benchmark January contract on the Shanghai Futures Exchange ended daytime trading 2.8% higher at 24,395 yuan ($3,829.31) a tonne, after touching 24,465 yuan earlier in the session, its highest since Oct. 27.

Shanghai aluminium for January delivery was up 2.2% at 20,260 yuan a tonne, after hitting 20,335 yuan, its highest since Nov. 4.

"Due to soaring electricity prices in Europe, some non-ferrous production capacity, such as zinc and aluminum, is once again restricted," analysts at Huatai Futures said in a note.

Three-month zinc on the London Metal Exchange was up 0.1% at $3,536.50 a tonne, as of 0710 GMT. It touched $3,550 a tonne on Wednesday, the highest since Oct. 21.

LME aluminium climbed 0.6% to $2,841.50 a tonne, having hit $2,849 in the previous session, the highest since Oct. 26.

* LME copper rose 0.6% to $9,663.50 a tonne, extending gains to a fourth day and rising to as high as $9,669, the highest since Dec. 9.

* In Shanghai, the most-traded February copper contract rose 1% to 70,180 yuan a tonne, near a session-high of 70,200 yuan, its strongest since Nov. 30.

* The dollar index hovered near a one-week low against riskier currencies and asset classes, making greenback-priced metals cheaper to holders of other currencies.

* Overall sentiment was upbeat, with a global share rally continuing during Asian trading as markets welcomed positive news about the impact of the Omicron variant and U.S. economic data. read more

* LME nickel gained 1% to $20,140 a tonne, while Shanghai nickel climbed 2.7% to 149,020 yuan a tonne. LME lead steadied at $2,319.50 a tonne, while Shanghai lead added 1.9% to 15,705 yuan a tonne.

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($1 = 6.3706 yuan)

Reporting by Enrico Dela Cruz in Manila; Editing by Devika Syamnath, Subhranshu Sahu and Vinay Dwivedi

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