November 3, 2017 / 2:56 AM / a year ago

METALS-London nickel rises, on course for 10 pct weekly gain

    BEIJING, Nov 3 (Reuters) - London nickel prices renewed
their advance on Friday, putting the metal on course for a gain
of nearly 10 percent this week and 27 percent year-to-date on
expectations of bullish demand from the electric vehicle battery
    * LME NICKEL: London Metal Exchange three-month nickel
 was up 1 percent at $12,735 a tonne by 0218 GMT, having
closed down 1.4 percent the previous session. LME nickel hit its
highest in more than two years at $13,030 a tonne on Wedneday.  
    * NICKEL: Nickel prices have surged this week over bullish
sentiment for electric vehicle demand as the metals industry
gathered for its annual meet in London. Prices may temper as
focus returns to China's pollution-linked shutdowns next week.
    * BHP: Global miner BHP said that its
Asutralian Nickel West operations, which it is retooling to meet
battery sector demand, are for sale at the right price.

    * SHFE NICKEL: The most-traded nickel contract on
the Shanghai Futures Exchange (Shfe) recovered from a dip in
early trade to climb 0.5 percent to 101,500 yuan ($15,356) a
tonne, following its highest close since June 2015 on Thursday.
    * COPPER: Copper was trading up 0.1 percent in
London after ending the previous session little changed and
gained 0.3 percent in Shanghai.
    * ALUMINIUM: London aluminium was essentially flat,
with looming production curbs on Chinese smelters likely to come
back into focus next week.
    * ZINC/LEAD: Zinc was down 0.3 percent in London and
lost 0.1 percent in Shanghai, while lead gained
0.6 percent on the LME but slipped 0.4 percent on the Shfe
    * ALUMINIUM DEMAND: Global demand for rolled aluminium
products is expected to remain strong next year thanks largely
to the automotive sector, leading producer Novelis          
said on Thursday.
    * PRIVATE EQUITY: North American institutional investors are
raising their exposure to metals and mining partly through
co-investments with private equity, industry sources at a mining
conference said this week.
    * SOVEREIGN RISK: Kazakh miner Kaz Minerals said the
government of Kyrgyzstan had suspended operations at its
Bozymchak gold and copper mine on Thursday for three months.

    * TANZANIA: Acacia Mining's top two executives have
resigned in the midst of talks between its parent company and
the Tanzanian government aimed at ending a long-running dispute
that has hit Acacia's operations.
    * MARKETS: Asian share markets edged higher on Friday as
investors gave a guarded reception to Republican plans for
massive U.S. tax cuts, while welcoming the appointment of a
centrist at the helm of the Federal Reserve.
    * USD: The dollar held steady versus a basket of currencies
on Friday, as focus shifted to U.S. jobs data. nL4N1N90ZN]

 BASE METALS PRICES                             0218 GMT
 Three month LME copper                             6937
 Most active ShFE copper                           54310
 Three month LME aluminium                        2175.5
 Most active ShFE aluminium                        16260
 Three month LME zinc                               3249
 Most active ShFE zinc                             25930
 Three month LME lead                             2458.5
 Most active ShFE lead                             18615
 Three month LME nickel                            12735
 Most active ShFE nickel                          101500
 Three month LME tin                                   0
 Most active ShFE tin                             144170
 BASE METALS ARBITRAGE                                  
 LME/SHFE COPPER              LMESHFCUc3          699.12
 LME/SHFE ALUMINIUM           LMESHFALc3         -497.07
 LME/SHFE ZINC                LMESHFZNc3          452.34
 LME/SHFE LEAD                LMESHFPBc3         -926.75
 LME/SHFE NICKEL              LMESHFNIc3          1301.6
($1 = 6.6097 Chinese yuan renminbi)

 (Reporting by Tom Daly; Editing by Richard Pullin)
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