* Copper prices surge to record highs * Higher oil prices support Mexican and Colombian pesos * Strong iron ore prices support real, Brazil stocks * MSCI EMFX index hits record high By Shashank Nayar May 10 (Reuters) - Most Latin American currencies and stocks gained on Monday, led by surging metal and oil prices on hopes of rising demand and a weaker dollar, while Brazil"s real hovered near four-month highs after marking its strongest week this year. Chile"s peso was the top performer, rising 0.5% to its highest level since July 2019 as copper prices scaled record highs. "The global boom in industrial metal prices – especially copper – is clearly a boon that generates about $4 billion in monthly exports for Chile," said Chris Turner, global head of markets at ING in a note. Consumer prices in Chile are expected to nudge up 0.3% in May, according to a central bank poll of traders, while inflation in 12 months is expected to hit 3.05%. Brazil"s real rose 0.3%, hovering near a four-month high as prices of iron ore - a top export - hit record highs. With economic growth set to speed up in top iron ore buyer China, investors have been pricing in higher demand for the steel-making material. Shares of Brazilian iron ore miners Vale, Companhia Siderurgica Nacional and USIMINAS rallied between 3.6% to 5%, pushing the Bovespa index to a near four-month high. The currencies of oil exporters Mexico and Colombia firmed 0.1% and 0.6% respectively, as oil prices jumped after a cyberattack forced the shutdown of major fuel pipelines in the United States and raised concerns about supply disruption. Other Latin American currencies like the Argentine peso slipped 0.1% while the Peruvian sol was unchanged. Argentina"s President Alberto Fernandez said he hoped a new, sustainable deal with the International Monetary Fund that would allow his heavily indebted country to develop can be reached soon. MSCI"s index of emerging market currencies rose 0.4% to a record high, while stocks rose to a 10-day high, with risk-driven assets set to benefit largely from loose monetary policy in the developed world. The dollar held at 2-1/2 month lows on Monday as a weak U.S. employment report spurred investors to unwind growing long positions in the greenback, and pushing flows into high-yield, high-risk assets. Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging 1354.13 0.41 Markets MSCI LatAm 2525.16 0.27 Brazil Bovespa 122483. 0.36 95 Mexico IPC - - Chile IPSA 4618.8 0 Argentina MerVal NOT NOT AVAILABLE AVAILAB LE Colombia COLCAP 1281.93 0 Currencies Latest Daily % change Brazil real 5.2229 0.27 Mexico peso 19.88 0.1 Chile peso 691.6 0.53 Colombia peso 3726.32 0.56 Peru sol 3.81 0 Argentina peso 93.92 -0.07 (interbank) (Reporting by Shashank Nayar in Bengaluru; Editing by Alison Williams) Our Standards: The Thomson Reuters Trust Principles.