METALS-Copper extends losses on concerns over China's growth
SINGAPORE, June 27 (Reuters) - London copper lost more ground on Thursday, falling for seven out of nine sessions as ongoing concerns over slowing economic growth in China put pressure on the market.
* Three-month copper on the London Metal Exchange fell 0.3 percent to $6,716.25 a tonne by 0106 GMT, not far off a three-year low touched earlier this week.
* The most-traded October copper contract on the Shanghai Futures Exchange lost 0.5 percent to 48,230 yuan a tonne.
* The copper market is facing pressure from slowing growth in China, the world's top consumer, although concerns have eased that the U.S. central bank will soon scale back its commodities-friendly monetary stimulus.
* European Central Bank president Mario Draghi reiterated on Wednesday that an ECB exit from its loose monetary policy remains distant, offering some support for the market.
* Worries about a credit crunch in China were only partly reduced after the People's Bank of China (PBOC) said late on Tuesday it had provided cash to some institutions facing temporary shortages and would continue to do so if needed.
* Demand from China accounts for around 40 percent of global copper consumption.
* The U.S. government slashed its estimate for first-quarter economic growth on Wednesday, offering a cautionary note on the recovery as the Federal Reserve ponders curtailing its massive monetary stimulus.
* Asian shares extended gains on Thursday, buoyed by rising global equities overnight on expectations the U.S. Federal Reserve will not rush to end its stimulus programme, but investor caution over Chinese markets capped the upside.
DATA/EVENTS (GMT) 0600 Germany Import prices 0645 France Consumer confidence 0755 Germany Unemployment rate 0800 Euro zone M3 money supply 0900 Euro zone Business climate 0900 Euro zone Economic sentiment 1230 U.S. Personal income 1230 U.S. Jobless claims 1230 U.S. Midwest manufacturing index 1400 U.S. Pending home sales
Base metals prices at 0106 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6716.25 -18.75 -0.28 -15.32 SHFE CU FUT OCT3 48230 -230 -0.47 -16.74 HG COPPER JUL3 3.04 0.00 -0.03 -16.77 LME Alum 1771.00 0.00 +0.00 -14.57 SHFE AL FUT OCT3 14250 -10 -0.07 -9.06 LME Zinc 1833.75 -4.25 -0.23 -11.84 SHFE ZN FUT OCT3 14350 -20 -0.14 -10.62 LME Nickel 13621.00 16.00 +0.12 -20.16 LME Lead 2031.00 0.00 +0.00 -12.83 LME Tin 19700.00 0.00 +0.00 -15.81 LME/Shanghai arb^ -218
Shanghai and COMEX contracts show most active months
(Reporting by Naveen Thukral; Editing by Richard Pullin)