Econ worries drag US copper down from 11-mth highs

NEW YORK Aug 31 (Reuters) - U.S. copper futures extended a pull-back from last week's 11-month highs Monday morning, as a sharp plunge in Chinese and U.S. equity markets curbed economic recovery hopes, and a firmer dollar combined to drag prices down to one-week lows.

For detailed report on global copper markets, click on [MET/L]

* Benchmark copper for December delivery HGZ9 dropped 9.80 cents, or nearly 3.3 percent, to $2.8525 a lb by 10:09 a.m. EDT (1409 GMT) on the New York Mercantile Exchange's COMEX division.

* Range from $2.9890 to $2.8320, its lowest level since Aug. 21.

* On Friday, the December contract climbed to a 11-month peak at $2.9895.

* COMEX estimated copper volumes at 10,200 lots by 9 a.m.

* COMEX copper tracks sharp plunge in Chinese equity markets and a 3-percent fall in Shanghai copper prices. [ID:nBJD002975] [ID:nSHA259266]

* The dollar was up against a basket of currencies .DXY, making dollar-denominated metals, such as copper, more expensive for non-U.S. investors. [USD/]

* Faster-than-expected pick-up in U.S. Midwest business activity fails to slow early 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. [ID:nN28382729]

* Chilean copper production amounted to 427,018 tonnes in July, down 1.3 percent from the same month last year. [ID:nSAG000374]

* Shanghai copper stocks hit a two-year peak at 86,825 tonnes on Friday. [ID:nSHA322273]

* London Metal Exchange (LME) closed Monday for a holiday. Business will resume on Tuesday.

* LME warehouse stocks rose by 1,375 tonnes to 298,925 tonnes on Friday. [LME/STX1]

* COMEX copper warehouse stocks were unchanged at 52,981 short tons as of Friday. [CMWSU]

* 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 Lisa Shumaker)