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LONDON (Scrap Monster): London Metal Exchange (LME) copper prices held near a 1-1/2-month top on Thursday on hopes the European Central Bank will unveil a new plan to combat surging borrowing costs in indebted euro zone states.

Leaks before the meeting gave investors confidence that the ECB will launch a new bond-buying plan, spurring appetite for riskier assets and sending London copper to $7,749 a tonne, a hair off 1-1/2-month high hit on Wednesday.

Base metals almost traded higher on LME market on Thursday. Aluminium and zinc both advanced to new two-month highs and lead reached a fresh high since mid-May on Thursday.

LME Price Highlights:

--Aluminium alloy rose 1.67% to $1820 a metric ton

--Aluminium advanced 1.78% to $1962 per metric ton

--Copper advanced 0.84% to $7670 a metric ton

--Lead rose 2.23% to $2035.50 per metric ton

--Nickel rose 1.7% to $16100 per metric ton

--Tin gained 0.28% to $19555 per metric ton

--Zinc advanced 1.54% to $1872.50 a metric ton

– Steel declined 4.45% to $315 per metric ton

The LME metal prices in US $ per metric ton as on September 06, 2011. The figures in brackets refer to prices that prevailed on the previous day.