LONDON,  - Copper prices extended their rebound on Friday, lifted by firm demand in top metals market China and hopes for interest rate cuts next year that would boost the global economy.

Three-month copper on the London Metal Exchange had gained 1.1% to $8,435 per metric ton by 1130 GMT. LME copper rose 0.7% on Thursday after three days of losses.

On the Shanghai Futures Exchange, the most-traded January copper contract rose 0.6% to 68,000 yuan ($9,499.06) a ton.

China's Politburo, a top decision-making body of the ruling Communist Party, said the country will spur domestic demand and consolidate and enhance the economic recovery in 2024, while Chinese passenger vehicle sales jumped 25.5% in November.

"Now that copper has corrected, the market will continue to focus on supply risks and strong demand in China, which is the reason we're bouncing today," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.

A major copper mine was shut in Panama late last month, while strikes have also caused disruptions at mines recently.

"The strong trade numbers from China highlights a mismatch between worries about the economic slowdown in China and then at the same time the underlying demand for copper, which remains quite strong," Hansen added.

China's exports grew for the first time in six months in November and its copper imports climbed 10.1% from the prior month to the highest in almost two years.

The premium to import copper into China hovered around a one-year high at $112.50 a ton.

Later, investors would keep a close eye on U.S. non-farm payrolls data. A weak number would keep hopes alive for interest rate cuts next year, Hansen said.

On a weekly basis, LME copper is set for the first fall in four as a stronger dollar made greenback-priced metals more expensive to holders of other currencies.

LME aluminium gained 1.1% to $2,156 a ton, nickel advanced 1.8% to $16,810, zinc climbed 0.5% to $2,419, lead added 0.8% to $2,034 and tin edged up 0.3% to $24,750 and was set for the biggest weekly gain since July 7, up about 3%.

($1 = 7.1586 yuan)

(Reporting by Eric Onstad; Additional reporting by Mai Nguyen in Hanoi; Editing by Alexander Smith)