London copper slipped below $5,000 a ton on Tuesday, easing after last week’s gains as markets reopened following a long weekend, while a debt-fuelled pick-up in China’s economy encouraged cautious optimism over future demand, Reuters reported. China’s local governments have embarked on a massive new round of off-balance sheet debt financing, underpinning a fragile upturn in the economy but raising red flags on financial stability. China’s economy is staging a general turnaround, powered by government infrastructure projects and an improving property market, which is renewing confidence in country’s metal demand, said Standard Chartered metals analyst Judy Zhu in Shanghai.
