* GRAPHIC-2017 asset returns: http://tmsnrt.rs/2jvdmXl
* LME/ShFE arb: http://bit.ly/2wZSAEz (Adds comments, updates prices, changes dateline from MELBOURNE)
LONDON, Nov 13 (Reuters) - Nickel prices bounced back on Monday after two sessions of losses as industrial consumers bought metal to guard against further price gains.
Nickel prices had shed 7 percent by Friday's close since touching a two-year peak of $13,030 a tonne at the start of the month.
The rally in nickel, which has gained 23 percent this year, was driven by hopes that growth in electric vehicles would boost demand for the metal in batteries. Nickel is currently mainly used to produce stainless steel.
"We're seeing good consumer hedging activity," said Gianclaudio Torlizzi, Partner at consultancy T-Commodity in Milan.
"The consumer side got very scared over the last two months after the summer price rally. They are pretty willing to hedge as soon as possible in order to avoid being trapped again."
* NICKEL: Benchmark nickel on the London Metal Exchange was up 1.6 percent at $12,310 a tonne by 1100 GMT, rebounding after prices hit their weakest in more than a week on Friday.
* VALE: Vale suspended operations at its Coleman nickel mine in Canada due to safety concerns, the Canadian Broadcasting Corporation said on Friday. http://bit.ly/2hv5mq2
* COPPER: Three month LME copper rose 0.4 percent to $6,816 a tonne, after small losses in the previous session. Prices last week fell to the weakest in around a month at $6,761.50 a tonne.
* FREEPORT: Copper got some support after the Indonesian unit of Freeport-McMoRan Inc closed the main supply route to its huge Grasberg copper mine on Sunday following a shooting incident, but it was reopened on Monday.
"The shooting incident that caused the closure highlights increasing tension at the world's 2nd largest copper mine. But onshore (China) premiums are unchanged and trading at flattish to a discount," Alastair Munro at Marex Spectron said in a note.
* COPPER INVESTORS: Hedge funds and money managers reduced their net long position in COMEX copper contracts in the week to Oct. 31, data showed on Friday.
* ALUMINIUM: LME aluminum edged up 0.2 percent to $2,106 as selling by Commodity Trading Advisors was met by consumer hedging, traders said.
* CHINA DATA: Chinese data this month is expected to show the world's second-biggest economy and biggest metals consumer cooled further in October as policymakers harden efforts to reduce financial risks and foster long-term sustainable growth.
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(Reporting by Eric Onstad, editing by David Evans)