Reuters reported that London copper edged lower extending 3.2% plunge in the previous session as worries about the global economic growth weighed on sentiment.

Fundamentals
1. Three month copper on the London Metal Exchange inched down 0.1% to USD 8,810 per tonne by 0042 GMT. It fell to USD 8,800 earlier its lowest since August 24th 2011.

2. When Shanghai closed on Friday, LME copper stood at USD 9,074.75.

3. China's stock, money, foreign exchange and commodities futures markets are closed on Monday for the Mid-Autumn Festival holiday.

4. The resignation of ECB Executive Board Member Juergen Stark sparked a selloff in global markets on Friday.

5. Official customs data showed that China's imports of copper rose 11% to 340,398 tonnes in August from the previous month. The country imported 70,983 tonnes of unwrought aluminum in August up from July's 70,413 tonnes.

6. China's key commodity imports including crude oil copper and iron ore, all climbed in August from the previous month adding to evidence that demand in the world's second largest economy was still going strong despite economic turmoil in the West.

7. Chile's Codelco, the world's top copper producer said that some of its European and US clients asked to cancel orders due to fears there will be less demand amid global financial turmoil.

8. Workers at Peru's No 3 copper producer Cerro Verde were back on the job on Friday after 2 day pay strike but could launch an indefinite walkout next week.

(Sourced from Reuters)