METALS-Copper rally could be back on as prices hold above $9,000

LONDON, March 2 (Reuters) - Copper steadied above $9,000 a tonne on Tuesday, easing fears that prices could correct lower after a breakneck rally powered by expectations of tight supply and growing demand.

Benchmark copper on the London Metal Exchange (LME) was up 1.3% at $9,163.50 a tonne in official trading, moving towards last week’s 10-year high of $9,617.

The metal used in power and construction shot up 15.5% in February as more analysts predicted price rises and speculators piled in.

“Sentiment is still very bullish out there,” said Commerzbank analyst Daniel Briesemann. But the rally is running ahead of fundamentals and copper will end the year lower, he added.