By Glenys Sim April 22 (Bloomberg) -- Copper advanced for a second time in three days as optimism about a recovery in global demand for the metal offset concerns about China’s measures to rein in spiraling property prices. Aluminum also gained. The metal for delivery in three months on the London Metal Exchange rose as much as 0.4 percent to $7,790 a metric ton, and traded at $7,783 at 1:21 p.m. Singapore time. The contract trimmed losses yesterday to end 0.4 percent lower after Freeport-McMoRan Copper & Gold Inc., the largest publicly traded copper producer, said global demand is improving. China’s $586 billion stimulus program, which included spending on infrastructure and subsidies for consumer purchases, helped double prices last year. Copper is used mainly in construction, automobiles and household appliances. “We’re still bullish on China’s demand,” Yang Tao, an analyst at Baocheng Futures Co., said from Zhejiang. “Stockpiles are high but if you take the average consumption to be just below 500,000 tons a month, what we’re seeing in the warehouse won’t even last half a month.” Stockpiles monitored by the Shanghai Futures Exchange have surged 95 percent this year, and stood at 185,895 tons last week, the highest level since at least 2003. Shipments to China jumped 53 percent in March from February, data showed yesterday. China, the top copper user, yesterday ordered developers not to take deposits for sales of uncompleted apartments without proper approval and barred them from charging “abnormally high” prices. The move added to curbs on loans for third-home purchases, increased down-payment requirements and higher mortgage rates announced in the past week. “The moves are meant to curb speculative investments in the property market and not the genuine home buyer,” said Yang. “This is weighing on sentiment in the near term. However, I think there is sufficient real demand for new homes, which will keep metals consumption steady.” Aluminum Gains Aluminum rose 0.7 percent to $2,366.75 a ton, while futures in Shanghai were little changed at 16,010 yuan a ton. The U.S. Commerce Department plans to investigate whether some Chinese aluminum products are getting unfair government subsidies and being sold at below-market rates in the U.S., it said in a statement yesterday, without saying whether the probe would look into complaints over currency valuation. A group of U.S. aluminum extrusion manufacturers said in a filing that China’s foreign-exchange policy acts as a $514 million subsidy to makers of goods used in construction, including window and door frames. Zinc rose 1 percent to $2,450 a ton, lead gained 1.3 percent to $2,350 a ton and nickel added 1.3 percent to $27,340 a ton. Tin hadn’t traded as of 1:50 p.m. in Singapore.

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