Industrial metals closed mixed after paring initial loses early in the day as the rise in equities prompted some fresh buying in this complex. Copper prices fell but steadied by the close of trading as a rally in equities helped offset concerns about rising inventories, falling Chinese imports and weak demand in western countries.

Japanese shipments of aluminium products fell 18.7 percent in August from a year earlier to 138,920 tonnes, as a mild summer curbed sales of canned drinks, the Japan Aluminium Association said on Monday.

Japanese copper smelters, which have reduced output since the start of the year due to the economic downturn, are now reviewing their plans for the second half of the year to March.

Latest U. S. data showed economic activity slipped in August, hurt by weakness in the labor market even as production indicators improved.

Chile's second biggest mining association, Sonami, expects the average price of copper to rise by up to 19 percent next year, which might encourage the continuation of more copper projects in the South American nation, its president told.

We expect industrial metals to show some upside in today’s session after pulling off lows of last trading session. The weakness in dollar backed by enhanced risk appetite may generate some renewed interest in this complex.