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Aluminum Rises on Tight Supply Signs at End of Fear-Filled Week

  • Copper caps its sixth weekly decline on demand concerns
  • China lockdown greater blow to metals than early 2020: analyst
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Aluminum rose in London on shrinking inventory as other base metals wavered following a turbulent week dominated by growing concerns on the state of the global economy.

While metals markets were calmer Friday, prices on the London Metal Exchange have endured a dismal few days on fears of rapid monetary tightening as well as deteriorating demand from top consumer China. Copper, often seen as an economic bellwether, capped a sixth weekly decline, the longest streak since 2019.