UPDATE 9-Copper drops 10 pct amid late equity sell-off
* Copper falls 9 pct, aluminium sinks 5 pct to 3-yr lows
* Recession worries, a strong dollar drag down prices
* Growth in big metal consumer China slows
(Recasts, updates with New York closing copper prices, adds analyst comments, New York to dateline and byline)
By Chris Kelly and Anna Stablum
NEW YORK/LONDON, Oct 22 (Reuters) - Copper's losses deepened in late business on Wednesday, slumping by 10 percent as stock markets tumbled and fears of recession gripped the complex, spurring additional deleveraging in the industrial metal.
London Metal Exchange copper MCU3 for delivery in three months closed down at $4,160 per tonne versus $4,500 on Tuesday. In after-hours trade, it fell as far as $4,040 a tonne, its lowest level since November 2005.
The metal, used in power and construction, has more than halved from a record high of $8,940 a tonne in July.
Copper for December delivery HGZ8 fell further in after-hours trade on the New York Mercantile Exchange's COMEX division to as low as $1.8060 per lb, after it had closed 7 percent lower at $1.8655.
"There's no sign of a bottom," said David Rinehimer, director of Citi Futures Perspective in New York. "It's moving closely with the equity markets. That's the way the price pattern has been lately ... equities go down a lot, copper goes down."
U.S. stocks tumbled for a second straight day on Wednesday as disappointing profits and outlooks from a raft of companies compounded fears of a global recession.
The Dow Jones industrial average .DJI slipped 556.10 points, or over 6 percent, at one point to 8,471.74.
"The equities are reflecting investor sentiment and the general economic outlook," Rinehimer added.
Gayle Berry, an analyst with Barclays Capital said rising copper stockpiles in London warehouses added to the negative sentiment about demand.
Copper stocks in LME warehouses rose 1,850 tonnes to 207,750 -- about 90 percent above the lows for this year seen in May and accounting for just over four days of global consumption.
"It's still a story about dollar strength," said Frank McGhee, head metals trader with Integrated Brokerage Services LLC in Chicago. Continued...
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