METALS-Aluminium slips as investors weigh oil-led inflation concerns, supply fears

March 13 (Reuters) - Aluminium eased on Friday as rising oil prices remained a focus and continued to fuel inflation concerns, although the metal was headed for weekly gains amid supply risks linked to the ongoing Middle East war.

The most-active aluminium contract on the Shanghai Futures Exchange was down 0.26% at 25,250 yuan ($3,667.13) a metric ton as of 0250 GMT, but was on course for a near 3% weekly gain.

The benchmark three-month aluminium contract on the London Metal Exchange dipped 0.09% to $3,513.50 a ton and was set to end the week up by 2%.

The Middle East war has disruptedshipment and delivery of aluminium and raw materials to and from the region that accounts for around 9% of the world's aluminium output.

Norsk Hydro (NHYKF) said on Thursday that its Qatalum aluminium smelter in Qatar halted a curtailment announced last week and would keep production at around 60% of its capacity, easing some supply worries.

However, the oil price surge has stoked fears of higher inflation, pressuring base metals including aluminium and capping gains driven by supply risks from the Middle East, traders said.

Iran's new Supreme Leader Mojtaba Khamenei vowed to keep the Strait of Hormuz shut, heightening worries about a prolonged conflict.

Brent futures are hovering around $100 a barrel, slightly easing from Thursday. Higher energy costs have prompted investors to scale back bets of U.S. rate cuts this year.

Meanwhile, trading houses have stepped up activity amid expectations of an aluminium deficit that has recently been worsened by the Middle East war. Commodity trader IXM is weighing a restart of aluminium trading, Reuters reported on Thursday, and Mercuria cancelled nearly 100,000 tons of aluminium in LME-approved warehouses in Malaysia on Monday.

Elsewhere on SHFE, copper dropped 0.31%, zinc shed 0.41%, lead declined 0.45%, tin lost 1.29% and nickel added 0.11%.

Among other LME metals, copper eased 0.53%, lead dropped 0.34%, nickel lost 0.88%, tin declined 0.58% and zinc was little changed.

Friday, March 13 DATA/EVENTS 0700 UK GDP Est 3M/3M Jan 0700 UK GDP Estimate MM, YY Jan 0700 UK Services MM, YY Jan 0700 UK Manufacturing Output MM Jan 0745 France CPI (EU Norm) Final MM, YY Feb 0745 France CPI YY, MM, NSA Feb 1230 US Consumption, Adjusted MM Jan 1230 US Core PCE Price Index MM, YY Jan 1230 US PCE Price Index MM, YY Jan 1230 US Durable Goods Jan 1230 US GDP 2nd Estimate Q4 1400 US U Mich Sentiment Prelim Mar

($1 = 6.8855 Chinese yuan renminbi) (Reporting by Lewis Jackson and Dylan Duan; Editing by Sonia Cheema)