Reuters reported that London copper rebounded from a near 2 month low hit in the prior session with lower prices spurring some buying but global growth worries could cap gains in trade dampened by one of the biggest storms ever to hit the United States.

Sluggish growth prospects in the United States and Europe, a string of downbeat corporate earnings reports, a US election and China's leadership transition in November have all combined to ward off investors while consumers are reluctant to lock in large orders.

Traders said that the picture is not likely to change much until well into the New Year when China's new leadership has had time to settle in and formulate new policies to spark growth.

Mr Dominic Schnider head of commodity research at UBS Wealth Management said that "There is absolutely no appetite at the minute to pick up metals as an investment. In September QE3 came in and euphoria pushed prices up. But if you look at real data, it's not improving. We probably won't get acceleration in Chinese demand until March."

Three month copper on the London Metal Exchange had climbed 0.51% to USD 7,738.50 per tonne by 0719 GMT, reversing losses from the previous session when it plumbed its lowest since September 5, at USD 7,670 per tonne.

Prices, up almost 11% on the year by mid September after Europe and the United States embarked on quantitative easing measures have since given back almost all their gains eroded by a flagging growth rate in China and Europe's festering debt problems. Copper is now up less than 2% on the year.

Quantitative easing tends to inflate the value of hard assets such as commodities because the relative value of paper currency falls as more cash enters circulation. The most traded February copper contract on the Shanghai Futures Exchange fell 0.18% to close at CNY 56,480 per tonne. China is the world's top metals consumer accounting for 40% of refined demand last year.

European stocks signalled a flat start with Wall Street closed as investors digested mixed corporate results. MKTS and GLOB The storm Sandy roared ashore with fierce winds and heavy rain on Monday near the gambling resort of Atlantic City, New Jersey after forcing evacuations, shutting down transport and interrupting the presidential campaign.

A slightly stronger euro against the dollar offered metals support, because a weaker dollar makes commodities cheaper for holders of other currencies. Still with prices of most metals near 2 month lows on Monday, traders noted industrial buyers had been tempted out.

RBC Capital said that there is clearly scope for further price erosion in the short term but we think selective consumer buying will now provide some support.