(Adds comment, detail, updates prices) London copper rose on...

(Adds comment, detail, updates prices)

London copper rose on Thursday but was mired near its lowest for the year after China's refined production surged in March, underlining ample stocks in the world's biggest metals consumer.

China's refined copper output rose 8.5 percent in March from a year ago to its highest since at least December 2015.

"The emergence of opportunistic buying should see the recent selloff in metal markets come to an end," ANZ said in a report.

• LME COPPER: Three-month copper on the London Metal Exchange CMCU3 was up 0.5 percent at $5,585 a tonne by 0252 GMT, after closing slightly lower in the previous session when prices hit the weakest since early January at $5,530 a tonne.
• SHFE COPPER: Shanghai Futures Exchange copper SCFcv1 slipped by 0.4 percent to 45,460 yuan ($6,602) a tonne.
• CHINA OUTPUT: China's refined copper output rose 8.5 percent in March from a year ago to 764,000 tonnes, its highest since at least December 2015, while aluminium and iron ore output levels were the lowest in months, according to the National Statistics Bureau.
• NICKEL: Short-dated nickel contracts have surged this week, reflecting a lack of immediately available supply. Nickel for tomorrow next day (tom/next) delivery traded as high as $10 this week and $7.50 last, the highest since December CMNIT-O.
• U.S. PROPERTY: U.S. mortgage application activity fell last week despite a decline in borrowing costs on 30-year home loans to their lowest levels in nearly five months, Mortgage Bankers Association data released on Wednesday showed.

• JAPAN ECONOMY: Confidence among Japanese manufacturers has risen for an eighth straight month to a level not seen since before the 2008 global financial crisis, a Reuters survey found, reflecting output and export gains led by overseas economic recovery.
• INVESTORS: Total global commodity assets under management (AUM) fell to $277 billion in March from $282 billion the month before, Barclays said in a note.
• RIO TINTO: Rio Tinto (RIO) cut its copper guidance to 500,000-550,000 tonnes from as much as 665,000 tonnes as a result of a strike at the Escondida mine in Chile and the curtailment of production at the Grasberg mine in Indonesia.

  MARKETS: Asian stocks may slip for a second consecutive day on Thursday as a weak Wall Street and declining commodity prices, especially for oil, prompted investors to trim their exposure to risky assets. [MKTS/GLOB]

  PRICES BASE METALS PRICES 0249 GMT Three month LME copper CMCU3 5583 Most active ShFE copper SCFcv1 45330 Three month LME aluminium CMAL3 1914 Most active ShFE aluminium SAFcv1 14160 Three month LME zinc CMZN3 2545.5 Most active ShFE zinc SZNcv1 21120 Three month LME lead CMPB3 2140.5 Most active ShFE lead SPBcv1 16000 Three month LME nickel CMNI3 9410 Most active ShFE nickel SNIcv1 78760 Three month LME tin CMSN3 19720 Most active ShFE tin SSNcv1 140480 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 374.89 LME/SHFE ALUMINIUM LMESHFALc3 -1172.89 LME/SHFE ZINC LMESHFZNc3 206.19 LME/SHFE LEAD LMESHFPBc3 -1741.81 LME/SHFE NICKEL LMESHFNIc3 1703.77

($1 = 6.8860 Chinese yuan)

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