Growth talks revive copper rally

LONDON: Copper climbed for a sixth day in London as speculation the US Federal Reserve will stimulate economic growth heightened optimism about demand for raw materials.

All six industrial metals on the London Metal Exchange gained for a sixth day, heading for the longest winning streak since July 2010. China is the world's biggest buyer of copper followed by the United States.

"The market's attention is refocused back on fundamentals, which for copper are supportive for higher prices," said Gayle Berry, an analyst at Barclays Capital in London. The Chinese demand "is still very strong."

Copper for three-month delivery rose $62.50, or 0.7%, to $9,222.50 a tonne by 10:21 am on the London Metal Exchange. Copper for December delivery climbed 4.55 cents, or 1.1%, to $4.187 a pound on the Comex in New York.

Prices in London are still heading for a monthly decline of 6.2%, the first monthly drop since May. Themetal is down 3.9% for this year.