* LME/ShFE arb: http://bit.ly/2wZSAEz (Updates throughout, moves dateline from Beijing)
LONDON, Nov 23 (Reuters) - Copper prices were set for their first decline in five days on Thursday and other industrial metals also fell as concerns over demand from top consumer China were compounded by a sharp fall in Chinese share prices.
Volumes were low, with Japanese markets closed for a national holiday and the United States celebrating Thanksgiving.
"After a long period of optimism on China there are some worries about future demand," said ABN AMRO analyst Casper Burgering, though he added those fears were likely exaggerated and prices would remain stable.
"Most in the market seem happy to buy dips and pull backs," said a London metals trader. "Unless that trend changes we should stay on the steady side."
COPPER: Benchmark copper on the London Metal Exchange was down 0.4 percent at $6,927 a tonne at 1055 GMT after touching $6,960, the highest since Nov. 7. The metal was set for its first fall in five days.
TECHNICALS: Copper looked ready to test resistance at $7,000 after breaking through a fibonacci level of $6,945 a tonne, said Thomson Reuters technical analyst Wang Tao.
STOCKS: Copper inventories in LME-registered warehouses fell 7,200 tonnes to 226,275 tonnes. Stocks have fallen almost 30 percent since mid September, pointing to tighter supply and supporting prices. <MCUSTX-TOTAL>
PERU STRIKE: Workers for the two largest unions at Southern Copper Corp in Peru started an indefinite strike, though the company said operations were unaffected.
CHINA ECONOMY: China's economy cooled in October, with industrial output, fixed-asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.
CHINA STOCKS: Blue-chip stocks saw their worst one-day loss in nearly 18 months as investors reacted to government steps to reduce risks in the financial system. The sell-off may have prompted investors to step back from metals, said a trader.
GERMANY: Exports and rising business investment drove German economic growth in the third quarter, suggesting the upswing in Europe's largest economy would extend well into next year.
DOLLAR: The dollar weakened to its lowest in more than a month, making metals cheaper for holders of other currencies and supporting prices.
PRICES: Aluminium was down 0.1 percent at $2,105 a tonne, nickel was 0.9 percent lower at $11,735, zinc was down 0.2 percent at $3,220.50, lead lost 1.3 percent to $2,431 and tin was down 0.5 percent at $19,305.
(Additional reporting by Tom Daly; Editing by Mark Potter)