NEW YORK - U.S. copper futures sank to a one-week low below $2.80 a lb on Monday, after a sharp plunge in Chinese equity markets raised doubts about the strength of global economic recovery.
* Benchmark copper for December delivery HGZ9 tumbled 12.40 cents, or 4.2 percent, to settle at $2.8265 a lb on the New York Mercantile Exchange's COMEX division.
* Lowest settlement since August 20.
* Range from $2.7980 to $2.9890.
* On Friday, the December contract surged to an 11-month high at $2.9895.
* COMEX estimated copper volumes at 23,355 lots by 1 p.m. EDT (1700 GMT). Final volume on Friday hit 34.,046 lots.
* Open interest rose 1,144 lots to 120,710 contracts open as of Aug. 28.
* Sharp break in the Shanghai Composite Index .SSEC the driving force behind China-oriented copper price correction - Bill O'Neill, partner of LOGIC Advisors in Upper Saddle River, New Jersey.
* Instability in Chinese equity markets unnerving some investors, prompting some long profit-taking - Matthew Zeman, head of trading with LaSalle Futures Group in Chicago.
* Faster-than-expected pick-up in U.S. Midwest business activity fails to curb selling momentum.
* The Institute for Supply Management-Chicago business barometer rose to 50.0 from 43.4 in July. Economists had forecast the index at 48.0.
* Chilean copper production amounted to 427,018 tonnes in July, down 1.3 percent from the same month last year.
* Shanghai copper stocks hit a 2-year peak at 86,825 tonnes on Friday.
* London Metal Exchange closed Monday for a holiday. Business will resume on Tuesday.
* LME warehouse stocks rose by 1,375 tonnes to 298,925 tonnes on Friday.
* COMEX copper warehouse stocks were unchanged at 52,981 short tons as of Friday.
* LME copper for three-months delivery MCU3 settled at $6,475 a tonne on Friday, after hitting an 11-month peak at $6,549. (Reporting by Chris Kelly; Editing by Christian Wiessner)