Copper climbed for a sixth day in London as speculation the U.S. Federal Reserve will stimulate economic growth heightened optimism about raw materials demand. 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 U.S. “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. Chinese demand “is still very strong.” Copper for three-month delivery rose $62.50, or 0.7 percent, to $9,222.50 a metric ton by 10:21 a.m. on the London Metal Exchange. Copper for December delivery climbed 4.55 cents, or 1.1 percent, to $4.187 a pound on the Comex in New York. Prices in London are still heading for a monthly decline of 6.2 percent, the first monthly drop since May. The metal is down 3.9 percent for this year. Copper advanced after a report yesterday that showed production in Chile, the biggest producer, slumped 18 percent in July from a year before. Output was curbed by a two-week strike at the country’s Escondida copper mine, the world’s largest. Production at the mine dropped 14 percent from a year earlier in the first half, Minera Escondida Ltda. said Aug. 24. Lead for three-month delivery on the LME rose 0.1 percent to $2,560 a ton. The price rallied 13 percent since Aug. 22, climbing above its 100-day and 200-day moving averages yesterday. Aluminum rose 0.5 percent to $2,436 a ton, while zinc gained 0.2 percent to $2,290 a ton. Nickel gained 0.2 percent to $21,941 a ton and tin increased 1 percent to $24,250 a ton. To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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