* Copper hits one-week high in London, Shanghai * China GDP surprises many who expected lower figures * LME copper to range from $7,400-$7,600 -analysts * Coming Up: U.S. CFTC commitment of traders data; 1930 GMT (Updates prices; adds quotes, details) By Carrie Ho SHANGHAI, July 13 (Reuters) - Copper rose to a one-week high on Friday after data showed China's economy grew at an expected 7.6 percent in the second quarter after many investors had bet on a much worse showing. But price gains were capped by the fact that the growth was still the country's slowest in three years, boding ill for industrial industrial metals demand in the longer term. Three-month copper on the London Metal Exchange rose more than 1 percent to $7,652 per tonne by 0758 GMT, its highest since July 6, but still on track for a 1.3 percent gain for the week. The most-active October copper contract on the Shanghai Futures Exchange rose 1.2 percent to 55,790 yuan ($8,800) a tonne, ending the week 0.1 percent higher. "People started worrying about metals demand after Beijing's last rate cut, which they saw as a precursor to really nasty Q2 GDP figures," said a Shanghai-based trader. "But now that the figures turn out just as expected, investors are coming around to the view that industrial metals were oversold over the past few sessions." China's GDP grew 7.6 percent, confirming that the economy is on course for its softest showing since 1999 and further dampening the outlook of a shaky global economy. INVESTORS SEEN CAUTIOUS But investors are still expected to stay cautious and copper prices are seen trading between $7,400 and $7,600, analysts said. "There were some obvious fresh longs earlier in the session, but we could see a bout of cautious short-covering later. The mood has lightened up but everyone is still cautious," said a second Shanghai-based trader. Most market players expected Beijing would continue introducing more measures to maintain growth, which should help support copper prices. "I think China should be able to hit 8 percent GDP growth this year although the economy should continue to be weak in the second half of the year," said Orient Futures derivatives department director Andy Du. Beijing's official full-year target for economic growth is 7.5 percent. "But downside room for copper should be limited as the government will likely keep stimulating the economy." Base metals prices at 0741 GMT Metal Last Change Pct Move YTD pct chg LME Cu 7630.00 75.00 +0.99 0.39 SHFE CU FUT OCT2 55770 620 +1.12 0.25 LME Alum 1898.00 16.00 +0.85 -6.04 SHFE AL FUT OCT2 15520 50 +0.32 -2.02 HG COPPER SEP2 345.75 4.25 +1.24 0.63 LME Zinc 1864.00 21.00 +1.14 1.03 SHFE ZN FUT OCT2 14785 140 +0.96 -0.07 LME Nickel 15977.00 202.00 +1.28 -14.61 LME Lead 1874.25 18.25 +0.98 -7.90 SHFE PB FUT 14960 90 +0.61 -2.16 LME Tin 18700.00 200.00 +1.08 -2.60 LME/Shanghai arb 1182 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month ($1=6.3733 Chinese yuan)

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