(adds analyst comment, updates prices)
BEIJING, Feb 9 (Reuters) - Copper prices fell in London and Shanghai on Friday, extending recent declines following a renewed plunge in global equity markets and another big rise in copper inventories.
The losses have put three-month London Metal Exchange (LME) copper, which is now trading below the $7,000 a tonne mark that had provided support so far in 2018, on course for a weekly drop of 3.1 percent, its biggest since early December.
In a note on Friday, ANZ said it expected the metal's recent weakness to be relatively short-lived, however.
"Risks of further supply disruptions remain high (and) the restriction on copper scrap imports into China is likely to support refined metal imports," it said. China is the world's biggest copper consumer LME COPPER: Three-month copper on the LME CMCU3 was down 0.4 percent at $6,818 a tonne by 0505 GMT, after shedding 0.5 percent in the previous session, as the dollar edged upward. A stronger dollar makes metals more expensive for holders of other currencies.
* LME STOCKS: On-warrant copper inventories in warehouses certified by the London Metal Exchange MCUSTX-TOTAL - those not earmarked for delivery - jumped by 25,700 tonnes on Thursday and have surged by 75 percent over the past three weeks.
* SHFE COPPER: The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 was down 1.25 percent to 51,510 yuan ($8,146.45) a tonne and has also lost around 3.1 percent so far this week, the most in a week since September.
* COPPER: Copper bulls who are betting on labour strife this year due to a full calendar of contract talks may be disappointed if early wage deals at two copper mines are a signpost for further agreements with mine workers. LEAD: LME lead CMPB3 gave up early gains to trade down 0.3 percent at $2,517.50. With its recent rally to a 6-1/2 year high running out of steam, lead is on course for a 6.1 percent weekly fall, its biggest in almost a year.
* ALUMINIUM: U.S. aluminium foil producers on Thursday described a systematic effort by Chinese competitors to force them out of the business, arguing before a U.S. trade panel that they need anti-dumping duties to survive and invest. For the top stories in metals and other news, click
TOP/MTL or MET/L
MARKETS NEWS
* Asian stocks fell on Friday, with Chinese shares slipping to multi-month lows after Wall Street shares dropped again in the face of rapidly-rising bond yields, while perceived havens such as the yen and Swiss franc were in demand. AHEAD (GMT)
0745 France
Industrial output Dec
1500 U.S.
Wholesale sales Dec
PRICES
0526 GMT Three month LME copper
CMCU3
6819 Most active ShFE copper
SCFcv1
51510 Three month LME aluminium CMAL3
2164 Most active ShFE
SAFcv1
14210 aluminium
Three month LME zinc
CMZN3
3395 Most active ShFE zinc
SZNcv1
26170 Three month LME lead
CMPB3
2515 Most active ShFE lead
SPBcv1
19090 Three month LME nickel
CMNI3
13060 Most active ShFE nickel
SNIcv1
99840 Three month LME tin
CMSN3
21460 Most active ShFE tin
SSNcv1
148790
LME/SHFE COPPER
LMESHFCUc3
1278.14 LME/SHFE ALUMINIUM
LMESHFALc3
-1633.54
LME/SHFE ZINC
LMESHFZNc3
709.33 LME/SHFE LEAD
LMESHFPBc3
-121.3 LME/SHFE NICKEL
LMESHFNIc3
2290.64
($1 = 6.3230 Chinese yuan)
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