METALS-London copper slips as U.S. stimulus wind-down priced in
SINGAPORE, July 8 (Reuters) - London copper slipped on Monday after a rosier than expected U.S. labour report raised expectations the U.S. Federal Reserve would scale back its economic stimulus as early as September, dimming the demand outlook for copper.
* Three-month copper on the London Metal Exchange edged down 0.3 percent to $6,767 a tonne by 0212 GMT, extending losses from the previous session when it fell by more than two percent.
* The most-traded November copper contract on the Shanghai Futures Exchange fell 1.6 percent to 48,890 yuan ($8,000) a tonne. The U.S. Federal Reserve is likely to begin shrinking the size of its debt purchase program, intended to prop up economic growth and support the labor market, by September of this year, according to a majority of economists at large Wall Street firms.
* China's Finance Ministry has told central government agencies to cut expenditures by 5 percent this year, a move the official Xinhua news agency said was part of an austerity campaign launched by the country's new leaders.
* Hedge funds and money managers boosted a net short position in copper futures and options in the week to June 25, a report by the Commodity Futures Trading Commission (CFTC) showed on Friday.
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* Japanese shares rose on Monday and the dollar hit a three-year high against a basket of major currencies after U.S. job creation accelerated in June, signalling growth in the world's largest economy is gathering momentum.
* The U.S. dollar hit a fresh three-year high against a basket of major currencies in Asia on Monday as market expectations grew that the Federal Reserve will scale back stimulus as early as September following solid jobs growth.
DATA/EVENTS (GMT) 0600 Germany Trade data 0830 Euro zone Sentix index 1000 Germany Industrial output 1300 ECB Chief Mario Draghi attends EU parliament hearing 1900 U.S. Consumer credit
PRICES Base metals prices at 0212 GMT
Metal Last Change Pct Move YTD pct chg LME Cu 6767.00 -22.00 -0.32 -14.68 SHFE CU FUT Nov 3 48890 -790 -1.59 -15.61 HG COPPER SEP3 3.07 0.00 +0.08 -16.02 LME Alum 1772.00 4.00 +0.23 -14.52 SHFE AL FUT OCT3 14220 -75 -0.52 -9.25 LME Zinc 1845.00 105.00 +6.03 -11.30 SHFE ZN FUT OCT3 14425 -70 -0.48 -10.15 LME Nickel 13350.00 50.00 +0.38 -21.75 LME Lead 2027.50 -2.50 -0.12 -12.98 SHFE PB FUT 13845.00 -40.00 -0.29 -13.74 LME Tin 19100.00 250.00 +1.33 -18.38 LME/Shanghai arb^ -505
Shanghai and COMEX contracts show most active months month ($1 = 6.1326 Chinese yuan)
(Reporting by Melanie Burton; Editing by Richard Pullin)