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SG:London copper down and eyes weekly loss on growth worries
 
Reuters reported that London copper slipped and was set to log a one percent loss this week on persistent worries about sluggish economic growth while traders eyed Chinese import data at the weekend for a health check of the world's top metals consumer.

Fundamentals;
1. Three month copper on the London Metal Exchange edged down 0.39% to USD 8,207 per tonne by 0106 GMT reversing small gains seen the previous session when it rebounded after hitting its lowest in two weeks at USD 8,105 per tonne.

2. Prices are set to log a third week of losses in four, since the US Federal Reserve and the European Central Bank announced easing measures that sparked a sharp price rally in early September.

3. According to government data that may provide a boost to President Mr Barack Obama a month before voters go to the polls, the number of Americans filing new claims for jobless benefits slid last week to the lowest in more than four and a half years.

4. Greece, Spain and the euro zone's slow progress toward debt reform take center stage at IMF meetings on Friday despite Europe's best effort to remove itself from the spotlight.

5. Next year offers only a slight improvement for a global economy hit by recession in Europe and slowing or moribund growth in Asia and the United States.

6. Imports of copper and iron ore by China, the world's top consumer of these raw materials are expected to rise in September from the previous month, as hopes for a recovery in commodities demand prompted buyers to stock up.

7. The most traded January copper contract on the Shanghai Futures Exchange rose 0.27% to CNY 59,140 per tonne.
Source