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METALS-Copper holds hefty overnight gains; supply data weighs

(Updates prices)

SYDNEY, June 22 (Reuters) - London copper rose on Thursday, holding onto hefty overnight gains triggered by data showing the metal's shift to a global supply deficit.

The global world refined copper market showed a deficit of 5,000 tonnes in March, compared with a 102,000 tonne surplus in February, industry data released this week showed.

Traders said light profit-taking by some investors led to a minor retreat late in the Asian trading day, with losses softened by a weaker U.S. dollar against other currencies .

* LME COPPER: Three-month copper on the London Metal Exchange was down 0.6 percent at $5,704 a tonne, as of 0720 GMT, after climbing 1.6 percent overnight.

* ShFE COPPER: The most-traded copper contract on the Shanghai Futures Exchange ended 0.68 percent higher at 45,810 yuan ($6,705) a tonne.

* POLISH COPPER: Shareholders in Polish state-run copper producer <KGHM KGH.WA> on Wednesday approved a dividend payout of 1 zlotys per share, in line with the management board's proposal.

ZINC: Zinc shed 0.3 percent to $2,632 a tonne, after ending 3.3 percent higher overnight, bolstered by a weaker dollar and concerns over tightening supplies, with LME stocks at their lowest since January 2009 <MZN-STOCKS>.

ShFE zinc closed 2.9 percent higher.

* CHINA STEEL: Shanghai steel futures fell nearly 2 percent on Wednesday, slipping for a second straight day on worries that continued rain in many parts of China would limit short-term demand in the world's biggest steel user.

* NICKEL DEFICIT SLIMS: A global deficit of refined nickel narrowed in April after a jump in refined metal output from Indonesia and China, data from the International Nickel Study Group showed on Thursday.

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminum

Most active ShFE aluminum

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS

($1 = 6.8321 Chinese yuan)

(Reporting by James Regan; Editing by Sherry Jacob-Phillips)