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METALS-Shanghai lead rises on restocking activity, pollution alert

BEIJING, Dec 25 (Reuters) - Lead futures in China rose almost 2%, marking their biggest percentage gain in 11 weeks, as restocking activity in the battery-material is expected to continue through January. "Domestic lead prices were driven by restocking expectations and amid the heavy pollution alert in Henan province," Jinrui Futures analysts wrote in a note on Wednesday. "There's still downstream restocking expectation at this year end, which may extend to early January," the note in Mandarin said. China's central province of Henan, home to several lead smelters, issued a heavy pollution alert last week under which industrial plants need to cut production and road transport. Copper futures in China rose on Wednesday after a Sino-U.S. trade deal removed some worries about the global economy's health, but trading was thin as many investors stayed on the sidelines due to Christmas holidays. A meeting to discuss the treatment and refining charges for the first quarter next year is scheduled to be held on Thursday. The charges are paid by copper miners to smelters to process ore into refined metal.

FUNDAMENTALS

* The most traded February lead contract on the Shanghai Futures Exchange rose 1.95% to 15,195 yuan per tonne at 0147 GMT.

* The most-traded February copper contract on the Shanghai Futures Exchange rose 0.34% to 49,460 yuan a tonne.

* There was no trading on the London Metal Exchange on account of the market being closed for Christmas holidays.

* China's Shanghai Futures Exchange has said it will relax trading position limits on its product contracts from next year to encourage increase market participation.

* U.S. President Donald Trump has said he and Chinese President Xi Jinping will have a ceremony to sign the first phase of their trade deal agreed to this month.

* China listed its first non-ferrous metals exchange traded fund on the Shenzhen Stock Exchange on Tuesday.

* For the top stories in metals and other news, click or

MARKETS NEWS

* There is no Global Markets report on Wednesday as many financial markets are closed.

DATA/EVENTS China is due to release November import-export data by origin and destination later on Wednesday including nickel ore imports from Indonesia and Philippines. PRICES

Three month LME copper

Three month LME aluminum

aluminum Three month LME zinc

Three month LME lead

Three month LME nickel

Three month LME tin

ARBS

(Reporting by Shivani Singh and Min Zhang in Beijing; Editing by Himani Sarkar)