* Codelco says some clients ask to cancel orders * Tin falls to 5-week low, zinc to one-month low * China Aug copper imports up 11 pct on month By Silvia Antonioli LONDON, Sept 12 (Reuters) - Copper fell to its lowest in almost a month on Monday on investor concern about the policymakers' ability to permanently solve Europe's debt crisis and on worries of a slowing economy which clouded the outlook for demand. Benchmark copper on the London Metal Exchange fell 1.7 percent to $8,675 by 1001 GMT, from $8,821 at the close on Friday. Copper fell to its lowest since Aug. 11 at $8,650 a tonne while tin fell to a 5-week low and zinc to a 1-month trough. "There are fears about the slowing economy, fears about the debt, fears about default, and we are not having coordinated multilateral actions being taken; we are having the opposite," said analyst Robin Bhar of Credit Agricole. "A second factor has been the sharp fall of the euro on the back of those fears, that is putting pressure on market sentiment. Fears have never gone away and from time to time they resurface." Worries about a Greek default heightened after the resignation of Germany's top official at the ECB Juergen Stark because of his opposition to its controversial bond-buying programme. A stronger dollar was weighing on metals, making dollar-priced commodities costlier for holders of other currencies. Uncertainty over copper demand growth also arose as a newspaper reported that Chile's Codelco, the world's top copper producer, said some of its European and U.S. clients asked to cancel orders due to fears there will be less demand amid global financial turmoil. "Clearly this feeds directly into fears about slowing demand. It's not good for the market, although the fact that this happened just before the mating season makes me think this may be a move from consumers to try and get better prices," Bhar said. Copper consumers and producers typically start negotiating prices for the next year around October, every year. Even an improving imports number from China failed to lift the sentiment. China's copper imports rose 11 percent from a month earlier to 340,398 tonnes in August, official customs data said. Investors worried that China's intention to keep tightening its monetary policy to fight inflation even as the pace of global growth shows signs of faltering could have a negative impact on metals demand. TIGHT SUPPLY Copper stocks in LME-approved warehouses fell by only 100 tonnes to 465,125 tonnes and remained about a third higher than in December 2010, latest data showed. Inventories of deliverable copper in warehouses monitored by the Shanghai Futures Exchange rose 5.1 percent last week to 113,300 tonnes. "This hints at some easing of tight conditions in the copper market," Credit Suisse said in a note. "However, the risk of a strike at the world's third largest copper mine in Indonesia could quickly tighten concentrate supplies again." Freeport McMoRan Copper & Gold's Indonesia mine workers are set to strike from Sept. 15 to Oct. 15 unless the firm meets their demands for a pay rise. Inventories of deliverable aluminium on Shanghai Futures Exchange-approved warehouses fell by 5.5 percent, and stocks in LME-monitored warehouses fell a meagre 0.2 last week. Also, aluminium stocks held at three major Japanese ports came to 241,200 tonnes at the end of August, up 37,700 tonnes or 18.5 percent from a month earlier, trading house Marubeni Corp said. "Japanese stocks are now historically fairly low...the whole inventory situation is still very tight as financing deals continue to take place," Bahr said. "Sure, aluminium is going to fall in line with other metals but factors such as higher production costs and robust demand mean the downside may be a bit more supportive. After all, the transport and packaging industry are going to increase their aluminium consumption." Low interest rates and a global economy on the edge of another recession mean the bank financing deals that have locked up most aluminium stocks in warehouses will remain intact and inflate premiums for already struggling consumers. Aluminium was down 0.4 percent to $2,357 from $2,367. Tin was at $23,100 from $23,505 while zinc , used to galvanise steel was at $2,160 from $2,185 Friday's close. Battery material lead was at $2,402 from $2,450 and nickel was at $21,026 from $21,150. Metal prices at 1002 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2010 Ytd Pct move COMEX Cu 392.00 -7.25 -1.82 444.70 -11.85 LME Alum 2377.00 10.00 +0.42 2470.00 -3.77 LME Cu 9025.00 204.00 +2.31 9600.00 -5.99 LME Lead 2477.00 27.00 +1.10 2550.00 -2.86 LME Nickel 21450.00 300.00 +1.42 24750.00 -13.33 LME Tin 23500.00 -5.00 -0.02 26900.00 -12.64 LME Zinc 2247.00 62.00 +2.84 2454.00 -8.44 SHFE Alu 17485.00 50.00 +0.29 16840.00 3.83 SHFE Cu* 67620.00 -100.00 -0.15 71850.00 -5.89 SHFE Zin 17125.00 55.00 +0.32 19475.00 -12.07 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07 (Reporting by Silvia Antonioli; editing by Jason Neely)

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