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METALS-Copper slips but on course for weekly gain, aluminium rallies

* LME/ShFE arb: http://bit.ly/2wZSAEz

* GRAPHIC-2017 asset returns: http://tmsnrt.rs/2jvdmXl (Recasts, updates prices, adds quote/details; changes dateline)

LONDON, Dec 22 (Reuters) - Copper slipped on Friday on a stronger dollar and profit-taking after striking a two-month high in the previous session, while aluminium hit another six-week peak on signs of falling output in top producer China.

Weighing on copper, the dollar edged up versus a currency basket, making dollar-priced metals costlier for non-U.S. investors. The metal, however, remained above $7,000 a tonne, and was on course for a weekly gain of nearly 3 percent.

"There's been stronger-than-expected (property) data out of China, we've seen some good data (from) the U.S. property market, plus tax reform (was passed by the U.S. Congress)," said Carsten Menke, head of commodities research at Julius Baer.

He added, however: "I don't think $7,000 will hold as we move into 2018. The latest data for China's property market was positive, but the trend since June, July is down. We should get softening demand for metals despite a solid global economy."

FUNDAMENTALS

* LME COPPER: Ahead of the two-day Christmas break, three-month copper on the London Metal Exchange was down 0.2 percent at $7,069 a tonne by 1115 GMT, having touched its highest in nearly two months on Thursday at $7,088.

* ALUMINIUM: Aluminium rose 0.7 percent to $2,164 a tonne, having hit its highest since Nov. 7 at $2,165.

* ALUMINIUM PREMIUMS: Japanese aluminium buyers have agreed to pay producers a premium of $103 per tonne for metal shipped in the January-March quarter, reflecting higher spot premiums, five sources told Reuters.

* CHINA PRODUCTION: Wednesday's data from the International Aluminium Institute showed daily average aluminium output in China fell to 78,300 tonnes in November against 82,100 tonnes in October.

* ALUMINIUM STOCKS: Limiting gains in aluminium, stocks of the metal in warehouses monitored by the Shanghai Futures Exchange are at a record 741,324 tonnes, suggesting surpluses, analysts say. <AL-STX-SGH>

* TECK: Canadian miner Teck Resources and the union representing 105 workers at its Quebrada Blanca copper mine in Chile said on Thursday they had reached a new wage agreement, ending an eight-day strike.

* ANTOFAGASTA: Chilean miner Antofagasta Plc said on Wednesday it had reached a new wage agreement with unionised workers at its Centinela mine, defusing the risk of a strike amid a volatile labour landscape.

* ALASKA: The would-be developer of the widely opposed Pebble Mine copper and gold project in salmon-rich southwestern Alaska announced on Thursday it will file its first application for a permit.

* COLUMN: Blue skies, green cars and a year of revolution for industrial metals: Andy Home.

(Additional reporting by Tom Daly; Editing by Dale Hudson)