Dec 22 (Reuters) - Metals prices rose on Friday, helped by expectations of Chinese economic policy support amid worries of supply disruptions due to shipping constraints in the Red Sea.
Three-month copper on the London Metal Exchange (LME) rose 0.4% to $8,628 per metric ton by 0329 GMT, while the most-traded February copper contract on the Shanghai Futures Exchange (SHFE) advanced 0.6% to 69,240 yuan ($9,687.98) a ton.
LME aluminium increased 0.9% to $2,263 a ton, nickel climbed 0.8% to $17,015, zinc advanced 0.8% to $2,567, lead rose 0.4% to $2,073.50 and tin was up 0.3% at $25,220.
SHFE aluminium advanced 1.5% to 19,210 yuan, nickel increased 1.3% to 132,090 yuan, zinc rose 0.8% to 21,295 yuan, tin was up 1% at 210,720 yuan, while lea was flat at 15,655 yuan.
Five of China's largest state banks, including the Agricultural Bank of China and China Construction Bank, have cut interest rates on some deposits from Friday, according to the banks' websites.
A metals trader said the moves sparked hopes of a fiscal stimulus from China, the world's biggest metals consumer.
More maritime carriers are avoiding the Red Sea due to vessel attacks carried out in support of Palestinians by Yemeni Houthi militant group, causing global trade disruptions through the Suez Canal, which handles about 12% of worldwide trade.
For the top stories in metals and other news, click or
DATA/EVENTS (GMT)
0700 UK GDP QQ, YY Q3
0700 UK Retail Sales MM, YY Nov
0700 UK Retail Sales Ex-Fuel MM Nov
0745 France Producer Prices YY Nov
1330 US Consumption, Adjusted MM Nov
1330 US Core PCE Price Index MM, YY Nov
1330 US PCE Price Index MM, YY Nov
1330 US Durable Goods Nov
1500 US U Mich Sentiment Final Dec
1500 US New Home Sales-Units Nov
($1 = 7.1470 Chinese yuan renminbi) (Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)
