METALS-Copper rallies after U.S. invites China to restart trade talks

BEIJING, Sept 13 (Reuters) - Shanghai copper prices rose sharply to a near two-week high in early trade on Thursday after a U.S. official said Washington had invited Beijing to restart talks aimed at resolving their trade dispute. The United States and China have so far imposed tariffs on $50 billion of each other's goods in a spat that has left the market fearing demand for industrial metals will weaken.

FUNDAMENTALS

* SHFE COPPER: The most-traded November copper contract on the Shanghai Futures Exchange rose as much as 2.1 percent to 48,560 yuan ($7,098.17) a tonne, its highest since Aug. 21, and stood at 48,440 yuan as of 0127 GMT.

* LME COPPER: Three-month copper on the London Metal Exchange gained 0.1 percent to $6,004 a tonne, after hitting its highest in more than a week in the previous session, when it closed up 2.4 percent.

* TRADE: The Trump administration has invited Chinese officials to restart trade talks, the White House's top economic adviser said on Wednesday, as Washington prepares to escalate the U.S.-China trade war with tariffs on $200 billion worth of Chinese goods.

* NICKEL/ZINC: Shanghai nickel and zinc were the other big gainers, rising as much as 3.1 percent and 2.3 percent, respectively, after big jumps in London on Wednesday.

* NICKEL: Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019.

* BROKER: Chinese conglomerate Fosun International Ltd is in discussions to buy British-based commodities broker Marex Spectron, two industry sources said.

* DRC: Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question.

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MARKETS NEWS

* Asian shares won a reprieve on Thursday as news the Trump administration has reached out to China for a new round of trade talks raised hopes a deal could be struck in the bitter tariff dispute between the world's two biggest economies.

DATA AHEAD (GMT) 1100 Bank of England announces interest rate decision 1145 European Central Bank announces interest rate decision 1230 ECB President Mario Draghi holds news conference 1230 U.S. Consumer prices Aug 1230 U.S. Weekly jobless claims

PRICES

BASE METALS PRICES 0140 GMT Three month LME copper 6008 Most active ShFE copper 48460 Three month LME aluminum 2059 Most active ShFE aluminum 14575 Three month LME zinc 2393.5 Most active ShFE zinc 20750 Three month LME lead 2035.5 Most active ShFE lead 18840 Three month LME nickel 12655 Most active ShFE nickel 103910 Three month LME tin 18990 Most active ShFE tin 144260

BASE METALS ARBITRAGE

LME/SHFE COPPER LMESHFCUc3 729.74 LME/SHFE ALUMINIUM LMESHFALc3 -1694.04 LME/SHFE ZINC LMESHFZNc3 1073.48 LME/SHFE LEAD LMESHFPBc3 1386.68 LME/SHFE NICKEL LMESHFNIc3 2343.64

($1 = 6.8412 Chinese yuan renminbi)

(Reporting by Tom Daly; editing by Richard Pullin)