METALS-Shanghai copper slides to 8 mth low on euro, property sector

* Weak euro adds to pressure on metals

* China official PMI reaches 11-mth high

* LME closed for Easter holidays on Friday, Monday

SINGAPORE, April 1 (Reuters) - Shanghai copper fell to its lowest level in more than eight months on Monday, pressured by a weak euro and new measures to douse China's red hot property sector, while the London Metal Exchange was closed, draining liquidity from the market. The most-traded July copper contract on the Shanghai Futures Exchange fell 1.9 percent to 53,800 yuan ($8,700) a tonne, its lowest since July 25, before trading at 54,090 a tonne at 0214 GMT. "Given demand is picking up and inventory is falling, I would say it's macro-related. I think the main reason is the strong dollar," said metals analyst Wan Ling of consultancy CRU in Beijing. "The white good sector is quite strong. Power cables are better than last year." China is the world's top consumer of copper, accounting for 40 percent of refined demand. The euro started the quarter on a weak note on Monday, staying near a four-month low on worries that the euro zone's rescue for Cyprus might have opened a can of worms and as Italy struggles to find a way out of its political impasse. Also adding to safe-have demand for the U.S. currency, Korea put its missile units on standby on Friday to attack U.S. military bases in South Korea and the Pacific, after the United States flew two nuclear-capable stealth bombers over the Korean peninsula in a rare show of force. Asian shares were steady on Monday, but trading remained subdued with some Asian markets, including Australia and Hong Kong, and Europe still closed for Easter holidays. London Metal Exchange markets closed on Friday and will remain shut on Monday.

CHINA FACTORY OUTPUT Signalling economic recovery may be accelerating, China's factory production lines ran at their fastest in 11 months in March, according to a reading of 50.9 on the official manufacturing purchasing managers index (PMI) published on Monday. Traders said this may have spurred concerns Beijing may create measures to withdraw liquidity this week. Also hurting sentiment towards metals were fresh curbs on China's red hot property sector, they said. Property speculators typically make up a large percentage of copper's import demand as they import metal, sell it on the domestic market and use the proceeds for higher yielding investments. Beijing, Shanghai and another major city in China's southwest will implement strict property cooling measures as part of a central government crackdown on the overheated property market, state news agency Xinhua has said. Reflecting some bargain hunting, the premium for front month copper on ShFE reached 150 against the rolling third month, which was its highest since late October PRICES Base metals prices at 0213 GMT

Metal Last Change Pct Move YTD pct chgLME Cu -- -- -- --SHFE CU FUT JUL3 54090 -940 -1.71 -6.22HG COPPER MAY3 -- -- -- --LME Alum -- -- -- --SHFE AL FUT JUL3 14580 -65 -0.44 -4.99LME Zinc -- -- -- --SHFE ZN FUT JUL3 14690 -855 -5.50 -5.50LME Nickel -- -- -- --LME Lead -- -- -- --SHFE PB FUT 14425.00 -70.00 -0.48 -5.41LME Tin -- -- -- --LME/Shanghai arb^ --

Shanghai and COMEX contracts show most active months

(Reporting by Melanie Burton; Editing by Joseph Radford)