Should be a good day * Copper adds to robust close after U.S....

Should be a good day

* Copper adds to robust close after U.S. Federal Reserve news

* Fed lets interest rates alone, sees economic stability

(Recasts with Fed news, updates prices, changes byline, dateline
previous LONDON)

By Carole Vaporean

NEW YORK, Aug 12 (Reuters) - Copper prices added to robust
closing levels in Wednesday's after-hours trade as an encouraging
U.S. Federal Reserve statement prompted buyers to take prices back
near session highs.

As expected, the Fed kept its overnight rate target between zero
and 0.25 percent, but it also extended a program to buy longer-term
government securities until the end of October. [ID:nN12136106]

"It was more that there wasn't anything in it that would make a
change in interest rates," said Mo Ahmadzadeh, president of Mitsui
Bussan Commodities (USA) Inc in New York.

U.S. copper futures for delivery in September HGU9 surpassed
closing levels at $2.8235 a lb on the New York Mercantile Exchange's
COMEX division, advancing 9.10 cents, or 3.33 percent, to $2.8275 a
lb in late dealings.

Earlier, the contract raced up to $2.8345 per lb, falling
short of Monday's 10-month peak at $2.8465, as dealers waited
for positive economic news to come from the Fed's policy statement.

When the Fed's outlook came in as expected, players with
uncovered short positions tried to pull prices off their highs, but
buyers would not be dissuaded from a positive reading of the Fed's
economic outlook.

"There are bids under the (copper) market. There's pricing
to be done for August that hasn't been done because we've been
in an up month. People are looking for copper to break down.
And, it's not," said Ahmadzadeh.

On the London Metal Exchange, three-month copper MCU3
ended at $6,190 a tonne, from $6,030 a tonne on Tuesday, but
rallied up to $6,216 a tonne in post Fed statement trading.

The metal used in power and construction also hit a
10-month high of $6,258 a tonne on the LME on Monday.

"The positive sign for the base metals is that the Fed will
indefinitely continue its accommodative policy, with no indication
it will pull in the reins," said Bill O'Neill, managing partner at
Logic Advisors in New Jersey.