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BEIJING, Aug 24 (Reuters) - London copper price recovered from an early dip to trade higher for the first session in three on Friday, as investors shrugged off the lack of a breakthrough in U.S.-China trade talks and sensed buying opportunities. London Metal Exchange copper is on course to end the week 1.4 percent higher, which would mark its first weekly jump since the week ended Jul. 27 after concerns the trade spat would hurt demand for industrial metals weighed on prices. "There is definitely evidence that trade buyers are beginning to price in metals generally amid a scenario of falling stocks and rising physical premiums," Malcolm Freeman, director of Kingdom Futures, wrote in a note. China copper import premiums SMM-CUYP-CN are currently at $86 per tonne, their highest since October 2016, while zinc premiums ZN-BPCIF-SHMET on a cost, insurance, freight (c.i.f.) basis have risen to $160 a tonne, the most since November 2017. FUNDAMENTALS * LME COPPER: Three-month copper on the LME was up 0.4 percent at $6,011 a tonne by 0434 GMT, after a 0.3 percent drop in the previous session. * SHFE COPPER: The most-traded October copper contract on the Shanghai Futures Exchange was up 0.8 percent to 48,630 yuan ($7,074.48) a tonne by the mid-session interval and is on course for a weekly gain of 1.6 percent. * TRADE TALKS: U.S. and Chinese officials ended two days of talks on Thursday with no major breakthrough as their trade war escalated with activation of another round of dueling tariffs on $16 billion worth of each country's goods. * ZINC: Shanghai zinc climbed as much as 2.6 percent to a one-week high of 21,190 yuan a tonne as is up 6.3 percent this week, which would be its biggest weekly jump since the week ended Aug. 18, 2017. It lost 7.5 percent last week. * LEAD: Shanghai lead rose as much as 2.7 percent to a two-week high of 18,280 yuan a tonne on concerns over tight stocks, and is heading for its best week since June. * LEAD: Canadian diversified miner Teck Resources Ltd , said on Thursday that lead smelting at its Trail, British Columbia facility was suspended for a fourth day due to wildfires in the province. * For the top stories in metals and other news, click or MARKETS NEWS * Asian stocks fell on Friday after U.S.-China trade talks ended without progress, with markets braced for a speech by Federal Reserve Chairman Jerome Powell for hints on the direction of U.S. monetary policy. DATA AHEAD (GMT) 0600 Germany Detailed GDP Q2 1230 U.S. Durable goods Jul 1400 Federal Reserve Chairman Jerome Powell speaks at Jackson Hole, Wyoming symposium PRICES 0444 GMT Three month LME copper 6022 Most active ShFE copper 48630 Three month LME aluminium 2076 Most active ShFE aluminium 14775 Three month LME zinc 2504.5 Most active ShFE zinc 21170 Three month LME lead 2083.5 Most active ShFE lead 18260 Three month LME nickel 13350 Most active ShFE nickel 109900 Three month LME tin 18975 Most active ShFE tin 145220 LME/SHFE COPPER LMESHFCUc3 477.82 LME/SHFE ALUMINIUM LMESHFALc3 -1762.41 LME/SHFE ZINC LMESHFZNc3 530.37 LME/SHFE LEAD LMESHFPBc3 660.38 LME/SHFE NICKEL LMESHFNIc3 1892 ($1 = 6.8740 Chinese yuan renminbi) (Reporting by Tom Daly; editing by Richard Pullin)
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