METALS-Copper heads for biggest weekly loss since Aug, US fiscal woes weigh
SINGAPORE, Oct 4 (Reuters) - London copper drifted on Friday, but was set for its biggest weekly loss in five weeks as worries about U.S. fiscal stability tarnished the outlook for demand, while top consumer China remained on holiday.
* Three-month copper on the London Metal Exchange had edged down 0.1 percent to $7,182 a tonne by 0122 GMT, adding to losses from the previous session when it fell 1.2 percent.
* Copper was on track to lose nearly 2 percent this week in what would be its biggest weekly decline since late August.
* The Shanghai Futures Exchange remained closed for a fourth day. It will reopen next Tuesday.
* The shutdown of the U.S. government appeared likely to drag on for another week and possibly longer as lawmakers consumed day three of the shutdown with a stalling game and there was no end in sight until the next crisis hits Washington around Oct. 17.
* The number of Americans filing new claims for jobless benefits remained at pre-recession levels last week but growth in the massive U.S. service sector cooled in September as firms took on fewer new workers.
* China's Minmetals has submitted a first-round bid for Glencore-Xstrata's $5.9 billion Las Bambas copper mine in Peru, the managing director of the state-owned metals and mining company said.
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* The dollar languished near an eight-month low on Friday as the U.S. budget standoff dragged on, heightening fears it could become embroiled in the likely struggle later this month to raise the U.S. borrowing limit.
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(Reporting by Melanie Burton; Editing by Joseph Radford)