HANOI, June 3 (Reuters) - Copper prices rose on Thursday, rebounding from two sessions of losses, as supply threat in the Americas lent prices some support despite weak demand in top consumer China.
Three-month copper on the London Metal Exchange rose 0.2% to $10,165 a tonne by 0247 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange fell 1.1% to 73,190 yuan ($11,462.98) a tonne.
Miner BHP has been facing labour strikes at its Escondica and Spence mines in Chile, while a landslip at miner Rio Tinto’s U.S. Bingham Canyon copper mine disrupted operations. Vale, meanwhile, has said it will suspend operations at its Sudbury, Canada copper-nickel mine.
Production at BHP’s Escondida, the world’s biggest copper mine, dropped 16.5% year-on-year to 85,700 tonnes in April, and Codelco copper mine’s output fell 0.5% to 132,700 tonnes, Chile’s copper commission Cochilco said.
Meanwhile, Yangshan copper premium SMM-CUYP-CN dropped to $28.50 a tonne, its lowest since February 2016, indicating weakening demand for imported metal into China.
* LME nickel rose 1.3% to $18,470 a tonne and ShFE nickel advanced 1.7% to $135,330 a tonne.
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* Asian shares were a touch below a recent three-month top, with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs.
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$1 = 6.3849 yuan Reporting by Mai Nguyen; editing by Uttaresh.V