METALS-Copper holds near 3-year low, China eyed
SINGAPORE, June 25 (Reuters) - London copper hovered close to its lowest level in nearly three years on Tuesday, hurt by weak appetite for risk due to fears a liquidity crunch could curb economic growth in top consumer China.
* Three-month copper on the London Metal Exchange was barely changed at $6,671 a tonne by 0123 GMT, after slipping to a session low of $6,646.25. The industrial metal fell as much as 3 percent to $6,613 on Monday, its weakest level since July 2010.
* The most-traded October copper contract on the Shanghai Futures Exchange dropped 1.4 percent to 47,960 yuan ($7,800) a tonne.
* China's central bank has engineered a tightening of cash in money markets as it tries to rein in excessive credit growth, especially in the lightly regulated "shadow banking" sector.
* Two top officials at the U.S. Federal Reserve downplayed the notion of an imminent end to monetary stimulus and said the recent sell-off in financial markets was not yet cause for concern.
* Freeport McMoRan Copper and Gold Inc was ramping up production at its Indonesian unit, six weeks after a deadly tunnel collapse at the world's No. 2 copper mine halted operations.
* The U.S. dollar took a breather after the two top Fed officials downplayed market fears of an imminent end to stimulus.
* Asian shares slipped further and investors braced for more volatility in Chinese markets as worries spread about tight liquidity.
DATA/EVENTS (GMT) 0645 France Business climate
1145 U.S. ICSC/Goldman chain store sales 1230 U.S. Durable goods orders 1255 U.S. Redbook weekly retail sales 1300 U.S. S&P/Case-Shiller home price index 1300 U.S. FHFA home price index 1400 U.S. Consumer confidence 1400 U.S. New home sales
Base metals prices at 0123 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6671.00 1.00 +0.01 -15.89 SHFE CU FUT OCT3 47960 -660 -1.36 -17.21 HG COPPER JUL3 3.02 -0.01 -0.31 -17.45 LME Alum 1781.00 9.50 +0.54 -14.09 SHFE AL FUT OCT3 14255 -30 -0.21 -9.03 LME Zinc 1827.25 2.25 +0.12 -12.15 SHFE ZN FUT OCT3 14310 -40 -0.28 -10.87 LME Nickel 13660.00 30.00 +0.22 -19.93 LME Lead 2000.75 5.75 +0.29 -14.13 SHFE PB FUT 13910.00 -10.00 -0.07 -13.33 LME Tin 19575.00 0.00 +0.00 -16.35 LME/Shanghai arb^ -345
Shanghai and COMEX contracts show most active months ($1 = 6.1451 Chinese yuan)
(Reporting by Manolo Serapio Jr.; Editing by Joseph Radford)