Feb 9 (Reuters) - London copper prices edged higher on Wednesday amid an improved risk appetite and subdued U.S. dollar, while aluminium hovered close to a 14-year high touched in the previous session on investor concerns over tight supply and dwindling inventories.
Three-month copper on the London Metal Exchange (LME) was up 0.3% at $9,811 a tonne, as of 0325 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange eased 0.1% to 70,500 yuan ($11,082.47) a tonne.
Asian shares rose as tech stocks tracked a strong overnight finish on Wall Street.
The dollar index weakened 0.1%, making greenback-denominated metals cheaper for those holding other currencies, while investors awaited U.S. inflation data this week for clues on the pace of Federal Reserve policy tightening.
FUNDAMENTALS
* LME aluminium rose 0.8% to $3,207 a tonne, having touched a peak since 2008 at $3,236. Nickel climbed 1.2% to $22,970 a tonne, lead edged 0.4% higher to $2,213, zinc gained 0.4% to $3,606 and tin fell 0.5% to $42,715.
* ShFE aluminium climbed 2.4% to 22,850 yuan a tonne after hitting a peak since Oct. 22. Nickel fell 1.6% to 170,210 yuan, zinc dipped 0.7% to 25,165 yuan, lead rose 0.9% to 14,930 yuan and tin fell 0.7% to 330,670 yuan.
* Aluminium stocks in LME-registered warehouses have fallen to their lowest level since 2007 at 767,700 tonnes.
* Aluminium production in the southwest Chinese city of Baise, which has gone into lockdown after recent COVID-19 outbreaks, remains stable though transportation disruptions are starting to weigh, the local industry association said on Tuesday.
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($1 = 6.3614 Chinese yuan)
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Reporting by Eileen Soreng in Bengaluru
Our Standards: The Thomson Reuters Trust Principles.
