Bloomberg reported that copper dropped for a fourth day in London as a split emerged among European leaders over how to tackle the region’s debt crisis and concerns mounted about the recovery of the US economy threatening the demand outlook for commodities.

1. Aluminum inventories in China, the largest user rebounded 30% in three weeks and analysts expect further increases as physical trading has slowed along with the country’s economic growth.

2. Freeport McMoRan Copper & Gold Inc operating the open pit at the Grasberg mine in Indonesia at about two thirds of capacity after workers went on strike.

3. Japan’s copper wire and cable shipments declined 1.6% in September from a year earlier as demand slowed after the March 11 earthquake and the yen’s strength reduced exports.

4. Codelco decided to go ahead with a project to convert its Chuquicamata copper mine in northern Chile into an underground operation, the company told the securities regulator.

5. Michael Sata president of Zambia fired the governor of the central bank and its board, reversed a foreign takeover of a local lender and temporarily halted metal exports within two weeks of taking office. Investors in Africa’s biggest copper producer aren’t panicking.

6. Iron ore’s biggest decline in 15 months may worsen as the economy slows in China the largest importer, the European debt crisis persists and BHP Billiton Limited and Rio Tinto Group increase production.

(Sourced from Bloomberg.net)