May 27 (Reuters) - Copper rose on Friday after a three-day slump, putting it on track for a modest weekly gain, as a weaker U.S. dollar underpinned prices, although worries about an economic slowdown in top metals consumer China persisted.

Other industrial metals also advanced, with nickel on the Shanghai Futures Exchange climbing as much as 5% after three days of losses.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was up 1.1% at $9,458 a tonne by 0315 GMT, while the most-traded July copper contract in Shanghai rose 1.3% to 72,130 yuan ($10,706.86) a tonne.

* Shanghai nickel rallied 5% to 213,600 yuan a tonne.

* The dollar sank to a one-month low versus major peers on Friday, as traders lowered Federal Reserve's rate-hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.

* A weaker greenback makes metals priced in dollars cheaper for holders of other currencies.

* Profits at China's industrial firms fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity.

* Workers at Russian aluminium giant Rusal's Guinea bauxite mine Compagnie des Bauxites de Dian Dian went on strike on Thursday, in a move Rusal said was illegal.

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MARKETS NEWS

* Asian shares extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers, while investors also took comfort from Fed's minutes showing a pause to its rate hikes is on the cards later this year.

DATA/EVENTS (GMT)

1230 US Consumption, Adjusted MM Apr

1400 US U Mich Sentiment Final May

PRICES

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

($1 = 6.7368 Chinese yuan) (Reporting by Enrico Dela Cruz in Manila)