Copper recovered from a three-week low and is currently up over 1.5% at $4.14 per pound. The red metal has declined more than 17 percent from its lifetime highs amid tepid demand from China and surging inventories. Meanwhile, weekend sell-off on Wall Street amid concerns about the outlook for the U.S. economy after the Labor Department released a closely watched report showing employment rose by less than expected in the month of August further added pressure on the commodity. For the holiday-shortened week, the Nasdaq saw a 5.8 percent nosedive, the S&P 500 plummeted by 4.3 percent and the Dow tumbled by 2.9 percent.

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