BEIJING, Jan 31 (Reuters) - Most base metals rose on Thursday after the U.S. Federal Reserve said it would be patient with interest rate hikes, although a second straight monthly contraction in manufacturing activity in top metals consumer China capped gains. Lower interest rates tend to push commodity prices higher because they mean lower inventory financing costs. London nickel gained for a third day -- and a sixth session in seven -- as concerns grew that the disaster at Vale's iron ore mine in Brazil will impact other metals. "Vale is one of the world's largest nickel producers, and there are increasing concerns that the company may be forced to close its Brazil nickel operations as it undertakes an environmental audit," ANZ wrote in a note. Nickel is on track to rise more than 15 percent in London in January, making it the top performer this month, as inventories hover just above their lowest since 2013. MNISTX-TOTAL FUNDAMENTALS * COPPER: Three-month copper on the London Metal Exchange climbed 0.3 percent to $6,154.50 a tonne as of 0440 GMT, extending a 1.4 percent jump from Wednesday. The most-traded March contract on the Shanghai Futures Exchange was up 0.8 percent to 48,110 yuan ($7,179.42). * COPPER: The metal used in construction and manufacturing is on track for a 3.2 percent gain in London in January. * JIANGXI: Hong Kong-listed shares of Chinese copper producer Jiangxi Copper Co rose as much as 5.3 percent to their highest since August after the company said it expects its 2018 profit to increase by 50 percent. * USD: The dollar index was down 0.1 percent at 95.25 and near a three-week low, after falling 0.43 percent overnight on the Fed comments. * CHINA: The official Purchasing Managers' Index (PMI) for January ticked up fractionally to 49.5, but remained below the 50-point level that separates growth from contraction on a monthly basis. * NICKEL: Russia's Norilsk Nickel, which vies with Vale to be the world's top nickel producer, plans to boost nickel output to 220,000-225,000 tonnes this year. * ALUMINIUM: London aluminium edged up 0.3 percent to $1,915 a tonne and is heading for a 3.7 percent rise in January amid tightening stocks, which would mark its best month since April 2018 when prices spiked on the now-withdrawn U.S. sanctions on Rusal.