MARKETS-METALS (UPDATE 4) * Euro sel-off ebbs, global equities mixed * Sentiment still fragile with no end in site to euro woes * Coming up: U.S. IBD/TIPP consumer confidence index for June, due at 1400 GMT (Updates with official prices/details) By Maytaal Angel LONDON, June 8 (Reuters) - Copper steadied on Monday not far off recent eight-month lows, as a steadier tone in financial markets lent support but sentiment remained fragile given concerns that the pace of global recovery might slow. Benchmark copper for three-months delivery on the London Metal Exchange traded at $6,120 a tonne in official mid-day rings from a close of $6,100 on Tuesday, when it touched an eight-month low of $6,037.50. Copper, used in power and construction has shed nearly $900 or 13 percent in the previous six sessions, knocked by concern over debt contagion in Europe, Chinese monetary tightening and poor U.S. data. "Most commodity markets tend to overshoot, such a torrent of CTA (fund) selling generally lasts two to three days then you get a rebound. The pressure is off the euro a bit (and) we had a fair amount of trade buying yesterday," said RBC Capital Markets' head of base metals, Alex Heath. "We think the metals have re-entered value zones given growth levels we're seeing and given much of the investment premium has been neutralised. But there's a real chance we see another leg down in the euro." The euro steadied on Tuesday, pausing from its recent sell-off, but the downtrend was seen as in tact amid concerns over the impact of euro zone debt problems on the world economy. A stronger euro makes metals cheaper for European investors. Global shares, seen by some as a proxy for economic growth, were mixed. Asian shares edged up and U.S. stock index futures pointed to a higher open, but European shares fell further. On Monday, euro zone finance ministers sought to restore confidence by finalising arrangements for up to 440 billion euros to be lent to euro zone countries that run into Greek-style debt problems. Meanwhile, U.S. Federal Reserve Chairman Ben Bernanke said European leaders have enough money to meet obligations of heavily indebted member countries. VOLATILE Overall, investors are bracing for another volatile week with more U.S. economic data on the way and a slew of Chinese indicators also due on trade, industrial output and investment. "It does look like we're in a more volatile world now than we were at the start of this year," said Ben Westmore, commodity economist at National Australia Bank, adding it is difficult to say whether prices are nearing a bottom, given recent volatility in commodity and equity markets. On a more positive note, LME copper stocks, which are seen as indicating demand trends, fell 900 tonnes to total 469,850 tonnes their lowest since mid-December last year and down some 15 percent since a mid-February peak. Also, the chief executive of Europe's largest copper smelter Aurubis said on Monday European copper demand will recover to around 3.9 million tonnes in 2010 due to expansion in certain industries and the weak euro. Among other industrial metals, aluminium traded at $1,884 a tonne from $1,867, with stocks of the metal used in transport and packaging falling 7,875 tonnes to 4.52 million tonnes. Much of the near record level of aluminium stocks are still tied up in financing deals and are not available to the market. Zinc traded at $1,654.50 from $1,628, battery material lead was last bid at $1,580 from $1,554, tin traded at $15,945 from $15,500, and stainless-steel ingredient nickel at $18,005 from $18,200. Nickel and tin hit four-month lows on Monday, zinc hit an 11 month low, lead its lowest in a year while aluminium fell to its worst level in eight months. Metal Prices at 1202 GMT Metal Last Change Percent Move End 2009 Ytd Percent move COMEX Cu 276.85 0.25 +0.09 334.65 -17.27 LME Alum 1884.00 17.00 +0.91 2230.00 -15.52 LME Cu 6120.00 20.00 +0.33 7375.00 -17.02 LME Lead 1574.00 20.00 +1.29 2432.00 -35.28 LME Nickel 17915.00 -285.00 -1.57 18525.00 -3.29 LME Tin 15775.00 275.00 +1.77 16950.00 -6.93 LME Zinc 1655.00 27.00 +1.66 2560.00 -35.35 SHFE Alu 14175.00 175.00 +1.25 17160.00 -17.40 SHFE Cu* 49430.00 -750.00 -1.49 59900.00 -17.48 SHFE Zin 13680.00 -100.00 -0.73 21195.00 -35.46 ** 1st contract month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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