Oct 16 (Reuters) - Copper prices rose on Friday as hopes of strong demand in top metals consumer China and risks of supply disruptions outweighed concerns that a resurgence in COVID-19 cases in Europe may weaken the global economic recovery momentum.
Three-month copper on the London Metal Exchange was up 0.4% at $6,774 a tonne by 0121 GMT, extending gains into a third session.
The most-traded November copper contract on the Shanghai Futures Exchange climbed 0.8% to 51,630 yuan a tonne.
Most other base metals also rose.
* Chilean state-run copper miner Codelco said it was producing at full capacity and aims to meet its 2020 output targets.
* Aurubis, Europe’s biggest copper smelter, will offer unchanged 2021 copper premiums to its customers of $96 per tonne above LME prices.
* Nickel Mines Ltd will buy 70% of Indonesia’s PT Angel Nickel Industry for $490 million in a deal that will double its nickel production within two years.
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* Asian stocks came under pressure on Friday as investors sought safe havens, such as the U.S. dollar, fearing that a resurgence in coronavirus cases and lack of additional U.S. fiscal stimulus would hobble the world economy.
0900 EU HICP Final MM, YY Sept
1230 US Retail Sales MM Sept
1315 US Industrial Production MM Sept
1400 US U Mich Sentiment Prelim Oct
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS (Reporting by Enrico Dela Cruz in Manila; Editing by Subhranshu Sahu)
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