Updates prices

Oct 23 (Reuters) -Shanghai aluminium futures scaled a one-week high on Wednesday, boosted by raw material supply risks, while copper prices edged lower.

The most-traded December aluminium contract on the Shanghai Futures Exchange (SHFE) SAFcv1 closed up 0.4% at 20,875 yuan ($2,927.81) a tonafter hitting its highest since Oct. 14 earlier in the session.

Three-month aluminium on the London Metal Exchange (LME) CMAL3 steadied at $2,633per metric ton by 0725 GMTafter rallying in the previous session.

The most-traded front-month alumina contract on the SHFE SAOX4 closed at 4,911 yuan, after hitting a record high of 5,003 yuan on Tuesday, driven by concerns of bauxite supply disruptions from Guinea in an already tight market. Bauxite is refined into alumina, the main ingredient in making aluminium.

"If disruptions persist, alumina's market supply will remain tight. Higher costs of production for aluminum will continue supporting prices in the near-term," ANZ analyst Soni Kumari said.

SHFE copper SCFcv1 fell 0.5% to 76,720 yuana ton and LME copper CMCU3 lost 0.5% to $9,540, pressured by a stronger dollar while investorsawaited additional news on stimulus measures from top consumer China.

The U.S. dollar ticked up to a 2-1/2-month peak, making metals more expensive for other currency holders. USD/

China's demand outlook for base metals is uncertain because there is not much clarity on what's going to happen to itsproperty market, Kumari added. Base metals are extensively used in the construction sector.

China's latest stimulus measures will not meaningfully boost domestic demand, U.S. Treasury Secretary Janet Yellen and International Monetary Fund chief economist Pierre-Olivier Gourinchas said.

Broadly, investors are also assessing a possible Donald Trump-led U.S. administration, which raises the possibility of more trade tariffs.

LME nickel CMNI3 decreased 0.5% to $16,240, zinc CMZN3 fell 0.7% to $3,116.5, lead CMPB3 edged 0.2% lower at $2,064.5, and tin CMSN3 gained 0.3% at $31,010.

SHFE nickel SNIcv1 fell 1.6% to 126,000 yuan, zinc SZNcv1 firmed 0.4% to 25,025 yuan, lead SPBcv1 increased 0.1% 16,740 yuan and tin SSNcv1 rose 0.1% to 254,480 yuan.

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Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Eileen Soreng, Sumana Nandy and Janane Venkatraman

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