SINGAPORE, July 25 (Reuters) - Shanghai lead rose on Thursday, tracking a rally in London prices overnight, following concerns of supply shortages amid some maintenance activities in China.
The most-traded lead contract on the Shanghai Futures Exchange climbed 1.2% to 16,715 yuan ($2,432.83) a tonne at 0213 GMT, while London lead eased 0.3% to $2,078 a tonne.
Three-month lead on the London Metal Exchange (LME) jumped 2.6% on Wednesday, its strongest gain in more than six weeks, as lead stockpiles in LME-approved warehouses MPBSTX-TOTAL fell to a fresh decade low of 57,425 tonnes.
The difference between the LME cash lead contract over the three-month lead contract CMPB0-3 flipped to a premium of $1.5 a tonne on Wednesday, indicating near-term supply shortage.
But the shortage might ease soon as Henan Yuguang Gold and Lead Co, China's top lead producer, is due to finish its maintenance at a lead smelter in Jiyuan, Henan province on Thursday, an official at the firm said.
* PRICES: London copper was almost unchanged at $5,998 a tonne, while aluminium edged up 0.1% and nickel fell 1%. Shanghai copper rose 0.1%, aluminium advanced 0.6% and nickel increased 0.7%.
* TRADE TALKS: Top U.S. and Chinese negotiators will meet face-to-face next week for the first time since Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war.
* COPPER: The chief executive officer of Polish miner KGHM said on Wednesday he expects copper prices to fluctuate around $6,000 per tonne by the end of the year.
* ALUMINIUM: The shutdown of 1.5 million tonnes-per-year of alumina refining capacity in China will curb oversupply of the aluminium raw material and see prices currently languishing near two-year lows reach a bottom, research house Antaike said.
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* Asian shares were cautious, shrugging off a tech-fuelled rally on Wall Street while the euro hovered near two-month lows as soft economic data bolstered expectations of rate cuts in Europe.
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Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.8706 Chinese yuan renminbi) (Reporting by Mai Nguyen; Additional reporting by Tom Daly in Beijing; Editing by Shounak Dasgupta)