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* LME/ShFE arb: tmsnrt.rs/2oQ5nm2
* China zinc premiums highest in nearly three years (Adds closing prices)
By Maytaal Angel
LONDON, May 19 (Reuters) - Copper rose on Friday and ended the week with a gain of more than 2 percent thanks to dollar weakness and receding worries over China's economy, while zinc surged more than 3 percent amid stock draws.
Stock markets in top metals consumer China ended the week higher, snapping a five-week losing streak as soothing regulatory comments and a central bank cash injection offset worries about growth.
The dollar was on track for its worst week since August, having given up almost all the gains made since Donald Trump was elected U.S. president last year.
"Doubts on the China (growth) front have been fading for the past week but increasing on the U.S. front and that's constraining the upside," said Nitesh Shah, commodity strategist at ETF Securities.
"I see metals treading water for the next few weeks, but thereafter they are likely to increase (assuming) this negative sentiment from the U.S. fades. In a year of political change in China things aren't going to be allowed to fall off a cliff."
* PRICES: London Metal Exchange copper ended up 1.8 percent at $5,682 a tonne. Leading base metal price gains, zinc closed up 3.3 percent at $2,616 a tonne, its strongest weekly gain in nine weeks.
* GLOBAL MARKETS: World stocks headed for their first weekly fall in five as uproar over Trump's firing of former FBI director James Comey and his campaign's alleged ties with Russia prompted uncertainty about his ability to push through his economic policies any time soon.
* COPPER STOCKS: Copper stocks in warehouses monitored by the Shanghai Futures Exchange rose 0.7 percent from last Friday to 196,358 tonnes.
* CHINA ZINC: Premiums for zinc in China jumped by $10 to $155 a tonne, the highest in nearly three years, as the gap between local and global prices turned favourable for imports.
* CHINA ZINC: China is likely to step up imports of refined zinc from this month, industry sources said, as dwindling global supplies of concentrate hit local output of the metal.
* ZINC STOCKS: LME data showed 'on-warrant' or available zinc stocks fell to 170,200 tonnes, their lowest since October 2008. MZN-STOCKS. Zinc stocks in warehouses monitored by the Shanghai Futures Exchange fell 9.5 percent from last Friday to 91,749 tonnes.
* LEAD STOCKS: Lead stocks in China have surged above 80,000 tonnes to the highest since March 2014. PB-STX-SGH
* NICKEL SURPLUS: The global refined nickel market swung into a small surplus in March after an increase in production outpaced steady global demand, industry data showed.
* PRICES: Lead ended down 1.1 percent at $2,095, tin closed up 1 percent at $20,400, aluminium ended up 1.1 percent at $1,943.50, having hit its highest since late April at $1,947 while nickel closed up 2 percent at $9,360, having hit its highest since early May at $9,440. ($1 = 6.8915 Chinese yuan renminbi)
Additional reporting by Melanie Burton; Editing by David Evans and Elaine Hardcastle