China import data drives US copper to 8-mth high

NEW YORK, June 11 (Reuters) - U.S. copper futures jumped to a new eight-month high above $2.44 a lb Thursday morning, driven by another record level of imports into China, the world's top copper consumer and further losses in the U.S. dollar.

For detailed report on global copper markets, click on [MET/L]

* Copper for July delivery HGN9 climbed 6.75 cents, or 2.85 percent, to $2.4345 a lb by 10:32 a.m. EDT (1432 GMT) on the New York Mercantile Exchange's COMEX division.

* Early range from $2.3475 to $2.4440, the benchmark contract's loftiest level since Oct. 14.

* COMEX estimated futures volume at 6,778 lots by 9 a.m.

* China's May imports of unwrought copper and semi-finished copper products hit a fresh high for the fourth straight month on continued arbitrage trade.

* China imported 422,666 tonnes of unwrought copper, including anode, refined and alloy, and semi-finished products, in May, up 5.7 percent from April's record 399,833 tonnes - data from the General Administration of Customs. [ID:nHKG186125]

* Sentiment up on Wednesday media report that Chinese industrial production rose by 8.9 percent in May from a year earlier. [ID:nPEK63329]

* China leading the overall commodity sentiment - Steve Platt, futures analyst with Archer Financial Services in Chicago.

* Chinese economic stimulus package bolstering sentiment and touching off renewed fund buying - Platt.

* Chinese stockpiling of the metal has helped lift the price of copper over 70 percent on the year.

* Copper further underpinned by steady investor appetite for risk as the dollar weakened making dollar-prices metals more affordable for non-U.S. investors. [USD/]

* Global copper inventories are still low and although metal prices are rising, there is not yet enough demand to increase production - Richard Adkerson, chief executive of Freeport-McMoRan Copper & Gold (FCX.N). [ID:nN10461704]

* London Metal Exchange warehouse stocks <LME/STX1> fell by 1,100 tonnes to 293,175 tonnes on Thursday.

* Canceled warrants -- metal set to leave warehouses -- fell to 27,625 tonnes on Wednesday.

* COMEX copper stocks CMWSU climbed 971 short tons to 58,484 short tons as of Tuesday.

* LME copper for three-months delivery MCU3 last traded at $5,347 a tonne, up $167 from Wednesday's closing level. Earlier, it rallied to a new eight-month high at $5,365 a tonne. (Reporting by Chris Kelly; Editing by Marguerita Choy)