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METALS-Copper prices turn higher in late Asia trading

(Recasts on higher copper prices) SYDNEY, June 27 (Reuters) - A late buying spurt by investors betting copper prices had reached a low point for the day pushed the metal into positive territory in late Asian trading on Tuesday. "We saw a fair bit of buying on the dips today," said a trader in Perth, declining to be identified as he was not authorised to speak with media. Copper prices were earlier pressured by news that new orders for key U.S.-made capital goods fell unexpectedly in May, suggesting a loss of momentum in the manufacturing sector.

FUNDAMENTALS

* LME COPPER: Three-month copper on the London Metal

Exchange stood 0.5-percent firmer at $5,823 a tonne at

0524 GMT, reversing losses from the previous session.

* SHFE COPPER: The most-traded copper contract on the

Shanghai Futures Exchange ended 0.39-percent higher at

46,720 yuan ($6,844) a tonne.

* CHINA INDUSTRIAL EARNINGS: Profits earned by China's industrial firms in May rose 16.7 percent from a year earlier, the statistics bureau said on Tuesday, quickening from the previous month.

* JAPANESE ALUMINIUM: Japanese aluminium buyers have agreed to pay producers a premium of $118 to 119 per tonne for metal shipped during the July to September quarter, reflecting weaker spot premiums, five sources directly involved in the quarterly pricing talks said.

* PHILIPPINES MINING: The new Philippines environment minister may decide next month on the fate of dozens of mining operations and contracts that his predecessor ordered closed, suspended or cancelled to protect watersheds and other natural resources.

* MONGOLIA VOTES: There was no outright winner in Mongolia's presidential election on Monday, forcing the country's first ever second-round run-off between the two leading candidates, the country's General Election Committee said of Tuesday.

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PRICES 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 Most active ShFE nickel Three month LME tin Most active ShFE tin

ARBS

($1 = 6.8262 Chinese yuan renminbi)

(Reporting by James Regan; Editing by Sherry Jacob-Phillips and Joseph Radford)