* Lead touches 15-month peak * Copper hits highest in more than a month * GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Oct 25 (Reuters) - Zinc prices rose on Friday asLondon Metal Exchange inventories touched the lowest level in 12years, though analysts said the higher prices failed to reflectlarge amounts of hidden stock. Inventories in LME-registered warehouses fellto 58,525 tonnes, their lowest since October 2007 after slidingby half this year. "In the background, we think there are a lot of off-exchangestocks in zinc and that the falls in exchange stocks aremisleading," said Caroline Bain, chief commodities economist atCapital Economics in London. "All the signs are that demand is very weak. I was justlooking at galvanised steel production in China and that's indeep negative territory despite wider steel production growingstrongly."
The bulk of zinc production is used for galvanising steel. LME benchmark zinc gained 0.8% in final open-outcrytrading to $2,510 a tonne. LME zinc touched a four-month peak of$2,567.35 on Monday.
* ZINC: The premium for LME cash zinc over the three-monthcontract touched its highest in nearly a month at$41.25 a tonne, indicating tight nearby supplies in the LMEsystem.
* CHILE UNREST: Copper prices were supported after miningcompanies in top producer Chile said nationwide riots had mostlyspared production but operations had been affected by thehobbling of port facilities, public transportation and supplychains. LME copper rose 0.8% in closing rings to $5,924 atonne, the highest since Sept. 16, in a third straight week ofgains.
* COPPER SPREAD: The LME cash copper discount to thethree-month contract fell to its lowest in nearly twomonths at $16.25 a tonne, indicating tightening nearby supplies. * GLENCORE: Miner and trading giant Glencore onFriday reported a 4% drop in copper output so far this year andtrimmed full-year guidance as it prepared to suspend someoperations in the Democratic Republic of Congo.* NICKEL: China's nickel ore imports in September rose 24.6%from the previous month to their highest since at least 2016, data showed, as stockpiling accelerated ahead of a January banon shipments from top miner Indonesia.* PRICES: LME aluminium added 0.2% to close at $1,728 a tonne, nickel lost 0.5% to $16,775, and tin dropped 0.6% to $16,675. Lead shed 0.1% to end at $2,223, retreating aftertouching an intraday high of $2,246, the strongest since Julylast year.
* For the top stories in metals and other news, click or <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Copper set for weekly rise amid Chile unrest ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Mai Nguyen in SingaporeEditing by David Goodman, Kirsten Donovan)
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