* Euro hits three-week low vs dollar * China central bank assurance fails to calm jitters * Aluminium stocks hit another record on LME By Harpreet Bhal LONDON, June 26 (Reuters) - Copper fell on Wednesday, pressured by a weak euro and concerns about the outlook for economic growth demand from top consumer China, with moves by the country's central bank to ease fears of a credit crunch failing to reassure investors. Also hitting sentiment were growing expectations that strong U.S. economic data would spur the U.S. Federal Reserve to rein in on its stimulus programme, which has boosted market liquidity and helped commodities surge. Benchmark three-month copper on the London Metal Exchange fell to $6,737 a tonne at 0948 GMT, down 1 percent from Tuesday's close of $6,805 a tonne. The metal used in power and construction fell almost 4 percent last week, its biggest weekly drop since mid April, and has already shed 1.5 percent so far this week. Other commodities were also hit, with spot gold falling to its lowest in nearly three years while Brent crude also eased. "The potential scaling back of stimulus measures (by the U.S. Fed) and discouraging signs out of China has been a drag on metals prices across the board," said Ross Strachan, economist at Capital Economics. "Looking at fundamentals it would suggest that there is further downside for copper. We expect prices to fall below $6,000 a tonne next year due to additional mine supply and the weak state of demand." Demand from China accounts for around 40 percent of global copper consumption. The People's Bank of China (PBOC) said late on Tuesday it had provided cash to some institutions facing temporary shortages and would continue to do so if needed. The metal used in power and construction hit a three-year low early this week, pressured by worries that China's central bank was engineering a tightening of cash in a bid to rein in excessive credit growth. "The government has indicated that it might help support the market but I think it is comfortable to keep conditions tighter than what they were previously," said economist Alexandra Knight at National Australia Bank in Melbourne. In currency markets, the euro fell to a three-week low against the dollar after comments from European Central Bank president Mario Draghi, who flagged downside risks to growth and said monetary policy would remain accommodative. A strong dollar makes commodities priced in the U.S. unit more expensive for holders of other currencies. In other metals, aluminium slipped to $1,780.75, from Tuesday's close of $1,784. Data showed aluminium stocks in London Metal Exchange warehouses hit a fresh record high of 5.448 million tonnes. Metal Prices at 0959 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2012 Ytd Pct move COMEX Cu 3.04 -0.03 -0.93 365.25 -99.17 LME Alum 1780.50 -3.50 -0.20 2073.00 -14.11 LME Cu 6735.50 -69.50 -1.02 7931.00 -15.07 LME Lead 2031.50 -23.50 -1.14 2330.00 -12.81 LME Nickel 13770.00 -160.00 -1.15 17060.00 -19.28 LME Tin 19651.00 -224.00 -1.13 23400.00 -16.02 LME Zinc 1840.00 -8.50 -0.46 2080.00 -11.54 SHFE Alu 14230.00 -35.00 -0.25 15435.00 -7.81 SHFE Cu* 48270.00 -210.00 -0.43 57690.00 -16.33 SHFE Zin 14315.00 -10.00 -0.07 15625.00 -8.38 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN

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