* LME copper stocks fall after rapid build-up
* Strike begins at Peru's Cerro Verde mine
* Week-long commodities rout loses steam
* Nickel heads for worst week since May 2015
* Coming up: U.S. Feb nonfarm payrolls at 1330 GMT
(Updates with official prices, strike start)
By Peter Hobson
LONDON, March 10 Copper rose on Friday after six
straight sessions of decline as a surge in inventories halted
and workers began an indefinite strike at the Cerro Verde mine
in Peru, raising supply fears.
Industrial metals rose broadly as a week-long rout of global
commodities caused by a strong dollar, concerns of supply gluts
and tepid demand from China began to falter.
Three-month copper on the London Metal Exchange
traded up 0.7 percent in official rings at $5,729 a tonne.
Prices fell to $5,652, their lowest since Jan. 10, in the
"Another supply disruption has returned attention to the
possibility of a drawn-out disruption having a negative impact
on supplies," Ole Hansen at Saxo Bank said.
"That's offsetting what has otherwise been a week where the
market has been focusing on the dollar, which has been going
higher, and these strong rises in LME inventories," he said.
Workers at Cerro Verde mine in Peru downed tools on Friday,
halting output of 40,000 tonnes per month in a dispute over
The action adds to disruptions at the world's two largest
copper mines in Chile and Indonesia.
Copper stocks in LME-registered warehouses MCUSTX-TOTAL
fell by 1,800 tonnes on Friday. But stockpiles are still 125,500
tonnes, or 63 percent, higher than at the start of March and at
their highest since December.
Rising inventories have helped push the copper price down 4
percent so far this month, spurring investors to abandon bets on
higher prices. A record long position has largely unwound,
reducing the risk of big price falls for copper, said Guy Wolf
at Marex Spectron.
"After a wave of negative headlines and data-points bringing
us back into the mid-$5k's, that is a better place to be
expressing long positions in our view," he said.
Tin traded 0.2 percent higher in official rings at
$19,300 a tonne.
Aluminium did not trade but was bid up 1.6 percent
at $1,897 a tonne. Zinc was bid 1.2 percent higher at
$2,712 and lead was bid up 0.5 percent at $2,262.
Nickel fell, trading 0.8 percent lower at $10,065 a
tonne in official rings. The metal used in stainless steel has
fallen more than 8 percent this week, its biggest weekly fall
since May 2015, on concerns that mine supply from the
Philippines may pick up just as Indonesia resumes exports.
Indonesian state miner PT Aneka Tambang Tbk (Antam)
said on Friday it would apply next week for a permit
to export 6 million tonnes of nickel ore for a year.
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
(Additional reporting by Melanie Burton; Editing by Dale Hudson
and David Evans)