* China copper fabricators consider Q4 exports -analyst * Attention shifts to LME's upcoming industry event * Indonesia tin exports jump 75 pct in Sept -official (Adds detail, updates prices) By Melanie Burton SINGAPORE, Oct 11 (Reuters) - Copper steadied on Thursday from two-week lows in line with a rebound in the euro, but more weak forecasts from U.S. companies and a downgrade to Spain's credit rating eroded risk appetite, capping the metal's advance. Oil major Chevron Corp followed aluminium producer Alcoa in lowering its demand forecast on Wednesday, souring sentiment and dampening demand expectations for industrial metals. The news came after the International Monetary Fund cut its global growth forecast for the second time since April and the World Bank said there was a risk the slowdown in China could worsen and last longer than many analysts had forecast. "The mining companies and Alcoa are saying they're expecting reduced demand, the IMF and World Bank have said growth is going lower ... There's too much negative news out there. It's an issue until we get some concrete earnings that tell us there's an improvement," said Jonathan Barratt, chief executive of Barratt's Bulletin, a Sydney-based commodity research firm. "When it comes to demand for primary (copper) imports, tell me what is positive out there, for copper there has been a supply issue, but people are happy to buy only what they need, when they need it." Three-month copper on the London Metal Exchange traded little changed at $8,158 a tonne by 0704 GMT, steadying from two-week lows of $8,105 hit earlier in the session. Prices which rallied nearly 10 percent in the wake of easing announcements by the U.S. Federal Reserve and a bond buying promise by the European Central Bank on Sept. 6 have now lost their froth as markets get to grips with the realities of stuttering global growth and a delayed revival in China. The most-traded January copper contract on the Shanghai Futures Exchange climbed 0.20 percent to close at 58,980 yuan ($9,400) a tonne. Aluminium, lead and nickel also hit their lowest in around one month in early trade. China is the world's top consumer of metals, accounting for 40 percent of refined copper demand last year. The euro dipped to its lowest since Oct. 1 after Standard & Poor's on Wednesday cut Spain's sovereign credit rating to BBB-minus, before it recovered, easing pressure on metals. A stronger greenback dents the appeal of U.S. dollar-priced metals to holders of other currencies. MARKETS NEWS Tepid demand growth and improving mine supply will next year swing the copper market into a 458,000-tonne surplus, snapping a three-year run of deficits, the International Copper Study Group (ICSG) said on Wednesday. Along similar lines, China's demand signals remained so slack for the fourth quarter that some semis manufacturers were considering further exports of surplus stock, a China copper analyst at a producer said. "Seasonally, in July and August we expect weaker demand but by October it should improve. But some copper semis producers are saying that Q4 orders are in line with Q3, and maybe even have declined a little bit. They're talking about exporting their extra copper to foreign countries," she said. "Codelco import cathode negotiations are coming up and so are TC/RC (treatment and refining charge) talks, so we can find a signal on growth expectations for next year. There may be some change in sentiment after LME Week in London next week," she added. Top copper producer Chile's Codelco is expected to agree on term premiums of around $105 for shipments of refined copper cathode to China during the industry's key event, LME Week, when smelters will also hammer out 2013 processing fees with miners. In other metals, a resumption in tin shipments from Indonesia, the world's top exporter, could weigh on prices that rallied more than 10 percent in September in part as markets responded to a halt in exports. Refined tin exports gained 75 percent last month to 9,874.47 tonnes from 5,645.87 tonnes in August, a trade official said. Base metals prices at 0703 GMT Metal Last Change Pct Move YTD pct chg LME Cu 8158.00 -7.00 -0.09 7.34 SHFE CU FUT JAN3 58980 120 +0.20 6.54 HG COPPER DEC2 371.80 0.00 +0.00 8.21 LME Alum 1998.75 -10.25 -0.51 -1.05 SHFE AL FUT JAN3 15530 -55 -0.35 -1.99 LME Zinc 1980.00 6.00 +0.30 7.32 SHFE ZN FUT JAN3 15320 -90 -0.58 3.55 LME Nickel 17720.00 50.00 +0.28 -5.29 LME Lead 2196.25 -0.75 -0.03 7.92 SHFE PB FUT 15820.00 -90.00 -0.57 3.50 LME Tin 21750.00 -75.00 -0.34 13.28 LME/Shanghai arb^ 926

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