November 2, 2017 / 3:07 AM / a year ago

METALS-Shanghai nickel surges 5 pct as battery bulls buy

    MELBOURNE, Nov 2 (Reuters) - Shanghai nickel soared 5
percent on Thursday after London nickel hit its highest in two
years as expectations of new demand from electric vehicles drove
bullish sentiment for the metal. 
    * NICKEL: Shanghai nickel rallied to its highest
since late November 2016, tracking gains in London, where LME
nickel had hit the highest in more than two years above
$13,000 a tonne on Wednesday. 
    * EVS: Battery makers are increasingly turning to nickel to
help power growing global electric car sales, but only half of
the world's producers of the metal are likely to benefit, mining
analysts and executives say.
    * LME: London Metal Exchange copper was up 0.2
percent at $6,945 a tonne by 0240 GMT, after 1.3 percent gains
on Wednesday. Other metals zinc, nickel, lead
 and aluminium slipped by around half a percent
each, taking a breather after recent gains.
    * SHFE: Shanghai Futures Exchange copper slipped by
0.1 percent. Shfe zinc and aluminium fell by
around 1 percent each. 
    * US FACTORY: A measure of U.S. factory activity retreated
from a 13-1/2-year high in October as some of the boost from
hurricane-related supply disruptions faded, but continued to
point to strengthening manufacturing conditions.
    * NAFTA: The current state of talks to update the NAFTA
trade pact is creating uncertainty among businesses and could
hurt investments and growth, Rio Tinto Aluminium chief
executive Alf Barrios said on Wednesday.
    * POLLUTION: China needs to improve law enforcement and make
polluters pay to treat billions of tonnes of rural, industrial
and household waste, the country's top legislator said in a
report to parliament late on Wednesday.
    * For the top stories in metals and other news, click       
    *  Asian shares advanced on Thursday after the U.S. Federal
Reserve expressed optimism about the economy, virtually
cementing the case for a year-end rate hike as investors awaited
the formal nomination of the next head of the central bank.
 BASE METALS PRICES                       0243 GMT         
 Three month LME copper                              6943.5
 Most active ShFE copper                              54140
 Three month LME aluminium                             2173
 Most active ShFE aluminium                           16095
 Three month LME zinc                                3252.5
 Most active ShFE zinc                                25910
 Three month LME lead                                2467.5
 Most active ShFE lead                                18655
 Three month LME nickel                               12685
 Most active ShFE nickel                             100850
 Three month LME tin                                  19485
 Most active ShFE tin                                144360
 BASE METALS ARBITRAGE                                     
 LME/SHFE COPPER                     LMESHFCUc3      618.24
 LME/SHFE ALUMINIUM                  LMESHFALc3      -485.2
 LME/SHFE ZINC                       LMESHFZNc3      494.78
 LME/SHFE LEAD                       LMESHFPBc3     -903.74
 LME/SHFE NICKEL                     LMESHFNIc3     1869.08

 (Reporting by Melanie Burton; Editing by Subhranshu Sahu)
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