* More positive economic data needed for metals rebound to last-analysts * Monitored Asian copper stocks fell 11.6 percent * Coming next: U.S. non-farm payrolls; 1330 GMT By Silvia Antonioli LONDON, Dec 2 (Reuters) - Copper rose almost 2 percent on Friday and was on track for its first weekly gain in five weeks, carried further on the momentum of Wednesday's central banks move to boost liquidity, but worries remained about the debt crisis affecting the euro zone. Copper traded at $7,925 by 1114 GMT, 1.7 percent up from $7,790 per tonne at the close on Thursday. The metal used in power and construction has gained almost 10 percent this week as the central banks liquidity injection to help a distressed banking system gave investors more confidence and boosted prices of assets such as base metals, perceived as riskier. "This week one the of big news has been the central bank move to provide liquidity into the money market," said Credit Suisse analyst Stefan Graber. "It has been an important step but more needs to follow; the EU needs to agree on credible measures to reduce debt. There is still uncertainty around." Investors were hoping that more convincing measures to tackle the euro zone crisis and prevent the economic environment from deteriorating further will be agreed at the next European Union summit on Dec. 9. The new head of the European Central Bank signalled on Thursday that the ECB stood ready to act more aggressively to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone. Manufacturing data from the U.S., China and Europe sent mixed signals about the health of the economy, analysts said. While November manufacturing data from the United States, rebounded to its highest since June on the strength of new orders, manufacturing activity contracted in top metals buyer China and the euro zone. Investors will focus on jobs data from the United States on Friday for more clues on the state of the world's largest economy. REASONABLE DEMAND "The market really needs the U.S. to continue to show signs of a stronger recovery, otherwise we think the situation in Europe will continue to put pressure on commodity prices," RBC Capital said in a research note. "Non-Farm Payrolls... will inevitably provide some excitement for the end of the week." Physical copper demand was reasonable, as a drawdown of inventories in bounded Asian warehouses showed, but until there is a significant improvement of the economic environment consumers are likely to keep their inventories low, analysts said. Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 11.6 percent and were also slightly down in LME-monitored warehouses MCU-STOCKS, compared with last Friday. "For base metals to continue to rebound we need to see more positive data from China," Graber said. "There is still some consumption of metals but in the current uncertain environment nobody expects a buying spring anytime soon." The medium-long term outlook for copper is brighter than for other metals as falling ore grades and supply disruptions are pushing the market into a deficit. For other metals such as nickel though, supply is not that tight, but it has yet to be seen whether material from new projects will come on stream when expected, analysts said. Stainless steel raw material nickel was at $17,150 a tonne from $16,785 while tin was at $19,850 from $20,100 and zinc, used to galvanize steel, was at $2,055.75 from $2,045 Thursday's close. Battery material lead was at $2,125 from $2,105 and aluminium was at $2,150 from $2,145. Metal Prices at 1125 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2010 Ytd Pct move COMEX Cu 359.40 6.65 +1.89 444.70 -19.18 LME Alum 2147.50 2.50 +0.12 2470.00 -13.06 LME Cu 7921.25 131.25 +1.68 9600.00 -17.49 LME Lead 2121.75 16.75 +0.80 2550.00 -16.79 LME Nickel 17108.00 323.00 +1.92 24750.00 -30.88 LME Tin 19830.00 -270.00 -1.34 26900.00 -26.28 LME Zinc 2055.00 10.00 +0.49 2454.00 -16.26 SHFE Alu 16255.00 60.00 +0.37 16840.00 -3.47 SHFE Cu* 58060.00 100.00 +0.17 71850.00 -19.19 SHFE Zin 15795.00 -5.00 -0.03 19475.00 -18.90 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07 (Reporting by Silvia Antonioli; editing by William Hardy)

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