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

(Updates London prices, adds Shanghai closing prices) 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 (EV) battery sector. Three-month London Metal Exchange nickel has climbed by over $1,100 a tonne since Monday, marking its biggest two-day jump in more than three years on Tuesday and Wednesday on positive sentiment about the EV growth story at the LME Week meeting in London, before slipping back 1.4 percent on Thursday. "While we agree that the potential is significant, we suspect the market has jumped the gun and a short-term pullback could be in order," ANZ analyst Daniel Hynes wrote in a note on Friday. "In saying that, it will just be a consolidation as the market is likely to remain tight even before the demand growth from the EV sector kicks in," he added. Hynes estimated that demand for nickel from EV batteries could rise fivefold by 2025.

FUNDAMENTALS

* LME NICKEL: London Metal Exchange three-month nickel was up 0.6 percent at $12,685 a tonne by 0723 GMT. The contract hit its highest in more than two years at $13,030 a tonne on Wednesday.

* SHFE NICKEL: The most-traded nickel contract on the Shanghai Futures Exchange (Shfe) recovered from a dip in early trade to finish up 0.3 percent to 101,320 yuan ($15,304.44) a tonne, a fresh highest close since June 2015.

* BHP: Global miner BHP said that its Australian Nickel West operations, which it is retooling to meet battery sector demand, are for sale at the right price.

* COPPER: Copper was trading up 0.1 percent in London after ending the previous session little changed, and closed up 0.3 percent in Shanghai.

* ALUMINIUM: Aluminium in London was up 0.1 percent, with looming production curbs on Chinese smelters likely to come back into focus next week as traders return from LME Week. Shanghai aluminium closed down 0.1 percent.

* ZINC/LEAD: Zinc was down 0.5 percent in London and ended down 0.1 percent in Shanghai, while lead climbed 0.4 percent on the LME but closed down 0.5 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 shares took a breather 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/US JOBS: The dollar held steady versus a basket of currencies on Friday, as focus shifted to U.S. jobs data.

BASE METALS PRICES 0723 GMT Three month LME copper 6933 Most active ShFE copper 54310 Three month LME aluminium 2173 Most active ShFE aluminium 16235 Three month LME zinc 3241 Most active ShFE zinc 25930 Three month LME lead 2453.5 Most active ShFE lead 18550 Three month LME nickel 12685 Most active ShFE nickel 101310 Three month LME tin 19585 Most active ShFE tin 143830

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 726.8 LME/SHFE ALUMINIUM LMESHFALc3 -516.57 LME/SHFE ZINC LMESHFZNc3 515.62 LME/SHFE LEAD LMESHFPBc3 -1003.39 LME/SHFE NICKEL LMESHFNIc3 2015.64

($1 = 6.6203 Chinese yuan renminbi)

(Reporting by Tom Daly; Editing by Richard Pullin and Amrutha Gayathri)