Industrial metals tumbled on Thursday after data showed an unexpected drop in existing home sales, triggered a sharp correction from over-extended levels. Copper futures settled at a near two-month low on Thursday.

Japan's output of rolled copper products rose 2.2 percent in August from July, preliminary data showed on Friday, in a sign of recovering metals demand as the country's economy appears to be on the mend. Japan's copper demand began to plunge from late last year as major manufacturers cut output in a sharp economic downturn.

National Association of Realtors said sales of existing homes fell 2.7 percent in August to an annual rate of 5.10 million units from 5.24 million units in July. Market expectations were for a rise to 5.35 million units.

Union workers at Chile's Spence copper mine likely to reject BHP Billiton's contract offer and vote to strike in coming days
- workers' union president Andres Ramirez.

South Korea has bought 3,000 tonnes of refined copper cathode for shipping by October 31 to the port of Incheon, the staterun Public Procurement Service said on Thursday.

Industrial metals are likely to trade firm in today's session after witnessing a sharp correction in the last trading session. A slight upside can be seen later in the day backed by an improvement in housing number and durable goods number from the U. S. Weakness in dollar can also lend some support to this complex.