Copper rises

Melbourne

London copper, aluminium and zinc rose to multi-year highs on Thursday, leading a broad-based rally in metals, on expectations that China´s reform of its metals industry will curb supply against a background of robust demand.

A weaker dollar has added heat to the move in metals, but the broader story relies on China´s property sector where despite moves from Beijing to rein in its overheated property sector, demand remins robust, said analyst Daniel Morgan of UBS in Sydney.

"People have been waiting for the property slowdown in China to weigh on demand. We are squarely in the third quarter now and that hasn´t happened every month things are okay," he said. "Overall, the space is pretty healthy. Miners are making good money now and I think they should be expcting to for quite a few months."