Copper buoyed

Melbourne

London copper was supported just below the $6,000 level on Monday, the first trading day of the second half of the year, as brighter factory demand from China underpinned prices.

China´s factories grew at the quickest pace in three months in June, lifted by strong new orders, in a sign of stabilising growth, though analysts say a further slowdown in the world´s second-biggest economy is inevitable as Beijing cracks down on debt risks.

"Although copper has slipped back slightly, so far today, the underlying trend seems positive with optimism for the Chinese economy, Chicago PMI numbers beating expectations and ongoing supply disruptions," said Kingdom Futures in a report.

"It would be reasonable to suggest that the markets are forming a base pattern, but there is always the danger of going too far too soon as summer approaches." London Metal Exchange copper was little changed at $5,942.50 a tonne, as of 0525 GMT.