* EU summit on Greek debt gets under way

 * Copper stocks continue to decline

 * Investors eye CFTC hearing on position limits

 (Recasts with New York closing copper price, adds New York
dateline/byline and analyst comments)

 By Chris Kelly and Maytaal Angel

 NEW YORK/LONDON, March 25 (Reuters) - Copper prices maintained a
positive tone in late business on Thursday, with upbeat labor market
data in the United States and indications of brighter demand
prospects outweighing lingering concerns about sovereign debt in the
euro zone.

 Copper for May delivery HGK0 on the New York Mercantile
Exchange's COMEX division ended up 3.50 cents at $3.3805 per lb, near
the upper end of its $3.3205 to $3.3870 session range.

 On the London Metal Exchange, benchmark copper for three-months
delivery CMCU3 closed at $7,435 a tonne in official rings from a
close of $7,375 on Wednesday.

 Adam Klopfenstein, Senior Market Strategist, with Lind-Waldock
said copper shot up in tandem with equities in response to the
positive U.S. jobs data and favorable testimony from U.S. Federal
Reserve Chairman Ben Bernanke. [ID:nN24208358]

 Testifying before the U.S. House of Representatives Financial
Services Committee, Bernanke said a modest recovery in the U.S.
economy still warranted the Fed's ultra-low interest rate policy.
[ID:nN25222814]

 "Bernanke reiterated his plan to keep rates lower to aid the
economy. I think any time you hear that type of news, it lends more
support to commodities in terms of the possible inflation fears that
could arise from leaving rates low for too long," he said.

 Pointing to a pick-up in demand, copper stocks at LME warehouses
have fallen throughout March, dropping 1,625 tonnes to 518,825 tonnes
on Thursday. This puts inventories 36,250 tonnes below a 2010 peak of
555,075 tonnes hit in February, which was the highest since late
2003.

 "It's a good indicator, that copper stocks are down," said Marc
Elliott, an analyst at investment bank Fairfax, adding that demand
would likely be picking up in a traditionally better period for
construction.

 "Chinese demand and industrial activity should be pretty good at
this time of year. This is normally a good time."

 Investors are also watching a Commodity Futures Trading
Commission hearing aimed at limiting speculation in metals markets.
[ID:nCFTCREG] [ID:nN25212518]

 Also, trade was still concerned about the fiscal health of the
euro zone, and eyed an EU summit for signs of aid for Athens.
[ID:nLDE62N2R1] [ID:nBAT005265]

 "Stage one was Greece, stage two now is Portugal. Now people are
scratching their heads wondering what stage three is going to be,"
Klopfenstein said.

 STRIKES LOOM

 On the supply side, workers at the Cerro Verde (CVE.LM) copper
mine, one of Peru's largest copper pits, and Shougang Hierro Peru
(SHP.LM) iron mine will go on strike next week to demand better
wages. [ID:nN24190275]

 "This is very minor compared to Chile's earthquake. In addition,
the focus of the market these days is not supply but demand. The
supply surplus from 2009 is extending into this year," said Peng
Qiang, an analyst at COFCO Futures.

 Among other industrial metals, stainless steel ingredient nickel
CMNI3 closed at $22,825 from $22,275.

 Nickel looks set to remain the top performer this year because of
a strike in Canada and problems bringing the New Caledonia Goro mine
into production coupled with a pick-up in demand from the stainless
sectors. [ID:nLDE62L1ZR]

 Speculators have jumped on the nickel bandwagon in recent weeks,
with LME data showing a dominant position controlling between 50-80
percent of cash warrants. [LME/WC]

 The discount between the cash and three-month contract MNI0-3,
at $36 a tonne, is more than half $83 on March 1.

 Battery material lead CMPB3 was at $2,077 from $2,026, with LME
data showing lead stock rose 400 tonnes to 172,000, their highest
since 2003. <0#LME-STOCKS>

 Aluminum MAL3, used in transport and packaging, was at $2,222
from $2,224, zinc MZN3 was at $2,245 from $2,211, while tin MSN3
was at $17,600 from $17,500.
 Metal Prices at 1910 GMT
 Metal            Last      Change  Pct Move   End 2009   Ytd Pct

                                                         move
 COMEX Cu       334.55        0.90     +0.27     334.65     -0.03
 LME Alum      2207.00      -17.00     -0.76    2230.00     -1.03
 LME Cu        7385.00       10.00     +0.14    7375.00      0.14
 LME Lead      2080.00       54.00     +2.67    2432.00    -14.47
 LME Nickel   22600.00      325.00     +1.46   18525.00     22.00
 LME Tin      17450.00     -200.00     -1.13   16950.00      2.95
 LME Zinc      2220.00        9.00     +0.41    2560.00    -13.28
 SHFE Alu     16380.00     -145.00     -0.88   17160.00     -4.55
 SHFE Cu*     59320.00       20.00     +0.03   59900.00     -0.97
 SHFE Zin     18400.00       25.00     +0.14   21195.00    -13.19
** 1st contract month for COMEX copper * 3rd contract month for SHFE
AL, CU and ZN SHFE ZN began trading on 26/3/07
 (Additional reporting by Rebekah Curtis in London; editing by
Anthony Barker and Marguerita Choy)