* Copper on track for biggest weekly jump since Nov.
* Dollar claws back earlier losses but metals hold up
* Zinc backwardation eases (Adds closing prices, updates dollar, headline)By Zandi ShabalalaLONDON, Jan 11 (Reuters) - Copper prices rose on Friday onhopes for a thaw in a trade dispute between Washington andBeijing, as the two sides prepared for more talks to resolvetheir issues.U.S. officials expect China's top trade negotiator to visitWashington this month, signalling that higher-level discussionsare likely to follow this week's talks with mid-level officialsin Beijing. The tit-for-tat trade dispute has pushed down metals priceson expectations it could hurt demand, especially from topconsumer China."We started off the year with a series of weak data that
raised concerns about demand, but it's a better environment forbase metals at the moment given the progress in trade talks,"Danske Bank commodities analyst Jens Pedersen said.
Three-month copper on the London Metal Exchange(LME) ended 0.2 percent higher at $5,942 per tonne, logging itsbiggest weekly gain since mid-November.
INTEREST RATES: The dollar rose against the euro, boosted bytechnical factors after falling earlier on a message that theU.S Federal Reserve will be patient on monetary policy. INDONESIA TIN: Indonesia exported 5,260.55 tonnes of refinedtin last month, an increase of nearly 51 percent from a monthearlier, data from the Trade Ministry showed. CHINA: China plans to set a lower economic growth target of6-6.5 percent in 2019 compared with last year's target of"around" 6.5 percent, policy sources told Reuters, as Beijinggears up to cope with higher U.S. tariffs and weakening domesticdemand. ZINC: China's refined zinc production saw its steepestplunge since 2013 last year amid tight raw material supply,longer maintenance periods and the relocation of the country'stop smelter, according to Antaike, the research arm of the ChinaNonferrous Metals Industry Association. ZINC SPREAD: The discount of LME cash zinc to thethree-month contract narrowed to $12 a tonne, thesmallest since Oct. 15.OTHER METALS: Nickel was the biggest gainer in thebase metals complex, rising 2 percent to $11,460 per tonne aftertouching its highest since Nov. 15.
STOCKS: On-warrant stocks of nickel availableto the market in LME-approved warehouses were at their lowestsince April 2014 at 144,882 tonnes.Aluminium fell 1.3 percent to $1,836 per tonne, zinc gained 1.3 percent to $2,492, lead rose 1.3percent to $2,002, and tin added 0.8 percent to close at$20,300 after touching a six-month high.<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Top Base and Precious Metals Analysis - GFMS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Tom Daly; editing by Jason Neely andSusan Fenton)
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