re: metalprices-nickel copper up
* London Metal Exchange (LME) copper and nickel futures are extending gains in Asia, helped by news at the weekend that a strike had started at Falconbridge Ltd mines.
* 0415 GMT, three-month nickel was quoted $15,800/$16,200 a tonne, up sharply from the Friday London close at $15,200.
* Copper was quoted at $2,504/$2,507, against $2,497 at the Friday close, the highest in 6-½ years. It gave up part of its earlier gains as Shanghai failed to reach limit-up.
* Falconbridge shut down mining and milling operations at its Sudbury, Ontario site, on Sunday as workers began a strike after rejecting a new labour contract. The nickel mines also produce copper, in addition to cobalt and precious metals. No further negotiations were scheduled.
* Shanghai copper <0#SCF:> contracts were strong across the board, with the most active August adding 430 yuan to 25,250 yuan a tonne.
* LME three-month aluminium was trading at $1,655/1,658 a tonne, steady from Friday's kerb close of $1,656, up $12 on the day.
* Shanghai aluminium futures <0#SAF:> were up, with the most active July contract gaining 60 yuan to 16,980 a tonne.
* LME three-month zinc fetched $1,045/$1,049 versus $1,043, while its sister metal lead was at $766/$771, against $769.
