LONDON (Thomson Financial) - Tight copper stocks and a weak dollar lifted the red metal on Monday, while an over-supplied aluminium market temporarily pushed that metal to a three-month low.

And nickel, which fell to a two-year low on Friday, remains vulnerable. Analysts said the alloying metal might fall below $20,000 per tonne.

Elsewhere, oil prices were higher while gold led precious metals higher, injecting more money into the commodities complex as a whole.

Global copper stocks, as tracked by the London Metal Exchange, stand at just 128,795 tonnes, equivalent to less than a week's worth of consumption.

At 10:36 a.m., three-month copper on the LME jumped to $8,175 per tonne from $8,085 at the close Friday. Aluminium was higher at $3,060 per tonne, basis three months, from $3,033, having earlier hit a three month low.

Nickel rose to $20,702 per tonne, basis three months, from $20,400, zinc was up at $1,849 per tonne from $1,820, tin rose to $23,670 per tonne from $23,425 and lead climbed to $2,048 per tonne from $1,970 at the close Friday.

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