April 30 (Reuters) - London copper prices slipped on Friday after crossing the key psychological level of $10,000 in the previous session, as investors booked profits in subdued trading ahead of next week's market holidays.
Three-month copper on the London Metal Exchange was down 0.1% at $9,873.50 a tonne, as of 0721 GMT, retreating after a five-session rally. It rose to as high as $10,008 on Thursday, hovering close to a record $10,190 hit in February 2011.
Despite the pullback, London copper was on track for its 12th monthly gain in last 13 months, boosted by optimism around prospects for a quick global economic recovery as well as tightening supply conditions.
"The copper price has gone stratospheric and probably has further to go, which is a boon for miners who are currently making at least $2 for every $1 they spend getting metal out of the ground," said Robert Edwards, CRU Group's principal analyst for base metals.
The most-traded June copper contract on the Shanghai Futures Exchange slipped 0.6% to 71,890 yuan ($11,110.94) a tonne, after touching a 10-year peak of 73,060 yuan earlier in the session.
The London exchange will be closed on May 3 for a bank holiday while the Chinese bourses will be shut from May 3-5 for the Labour Day break.
FUNDAMENTALS
* Factory activity in top metals consumer China expanded at a slower-than-expected pace in April as supply and transport bottlenecks weighed on production and overseas demand lost momentum.
* A surge in metal prices is prompting Chinese users such as home appliance manufacturers to look for alternatives.
* LME aluminium rose 0.3% to $2,424.50 a tonne, lead gained 0.3% to $2,122.50/tonne, nickel advanced 1.6% to $17,525/tonne, and tin added 0.9% to $28,735/tonne, but zinc dropped 0.7% to $2,899.50/tonne.
* Shanghai aluminium advanced 1.3%, nickel rose 1.5% and tin advanced 1.5%, but zinc slumped 2.2% while lead lost 1.2%.
(Reporting by Enrico Dela Cruz in Manila; Editing by Rashmi Aich)
