METALS-Copper little changed on U.S. fiscal standoff, China holiday
* Tin drifts down after 5.5 pct rally on Friday
* China markets to reopen Tuesday after week-long break
* Industry event LME Week in London this week
(Adds analyst's quotes; updates prices)
SINGAPORE, Oct 7 (Reuters) - London copper barely moved on Monday as a lack of progress in resolving the U.S. fiscal standoff cooled demand expectations, while top consumer China was absent for the last day of its week-long break.
Three-month copper on the London Metal Exchange was little changed at $7,255 a tonne by 0303 GMT, after gains of 1 percent in the previous session.
The Shanghai Futures Exchange will reopen on Tuesday after a week-long holiday break. The absence of China drained liquidly from the market, where less than 1,000 lots have changed hands.
Copper prices have been trapped in a $7,000-$7,500 band since early August and remain down more than 8 percent for the year.
Washington entered the fifth day of a partial government shutdown on Saturday with no end in sight even as another, more serious conflict over raising the nation's borrowing authority started heating up.
"There is a lot of uncertainty over the U.S. and it looks like it's going to drag on until the debt ceiling becomes the critical issue to tackle in mid-October - it seems commodities are reacting a bit more to this than one may have expected," said analyst Stefan Graber of Credit Suisse in Singapore.
A prolonged U.S. budget standoff would hit global markets very hard, the Bank of Japan warned on Friday as it said it was ready to top up its existing massive stimulus if the recovery underway in the world's third-largest economy was threatened.
Graber said that in China, strong spending on power grids could slow towards year-end, cutting some momentum from copper demand, while the latest round of manufacturing figures also flagged stalling growth.
"In terms of demand, overall it looks okay but it's hard to see any catalyst for a move higher," he added.
China is expected to import more refined copper in 2014 as Beijing steps up building of power networks, rail lines and low-cost homes, while domestic production is likely to be squeezed by tight scrap supply, industry sources said.
China accounts for around 40 percent of global refined copper demand.
In other metals, tin gave back 1.6 percent to trade at $23,619 a tonne, having soared by 5.5 percent on Friday, boosted by supply worries from top exporter Indonesia. Tin prices hit $24,000 a tonne on Friday, which was the highest since March 15.
Shipments by Indonesia's biggest tin exporter have been curtailed after new rules on domestic trading in August.
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Three month LME tin
(Editing by Ed Davies and Muralikumar Anantharaman)