SHANGHAI, July 9 (Reuters) - London copper gained slightly on Monday, after dropping more than 2 percent in the prior session, as data showing China's inflation cooled further in June helped counter a bleak U.S. jobs report.
Three-month copper on the London Metal Exchange edged up 0.3 percent to $7,550.25 per tonne by 0158 GMT, snapping three sessions of losses.
The most-active October copper contract on the Shanghai Futures Exchange fell about 1 percent to 55,180 yuan ($8,700) per tonne, tracking the drop in LME prices in the previous session and headed for its third session of losses.
China's annual consumer inflation cooled to 2.2 percent in June, from May's 3.0 percent, official data showed on Monday, giving Beijing more scope to ease monetary policy to support growth without stoking upward price pressures.
U.S. employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy.
Euro zone officials are cautioning against expecting any quick action from the bloc's finance ministers when they meet on Monday to sort out the tangle of loose ends and disagreements left by last month's EU debt-crisis summit.
Investors are eyeing China's GDP numbers due later this week for more trading cues.
On a positive note, another month of weaker-than-expected U.S. hiring has raised the chances in favour of the Fed launching a new round of monetary stimulus to boost growth, a Reuters poll of Wall Street economists showed.
Also lending some cheer was data showing German industrial production rose far more than expected in May due to stronger consumer goods output and construction activity, highlighting the resilience of Europe's largest economy even as much of the euro zone succumbs to a crippling debt crisis.
In industry news, BHP Billiton will tighten global copper supply from late 2013 onward if it postpones work on its single-biggest project, the $30 billion expansion of the Olympic Dam mine in Australia.
Asian shares slumped while the euro plumbed a two-year low versus the greenback on Monday after sluggish U.S. jobs data deepened worries about slowing global economic growth.
0130 China CPI June
0130 China PPI June
0600 Germany Exports/Imports May
1030 Euro zone Sentix index July
1400 U.S. Employment trend June
Base metals prices at 0158 GMT
Metal Last Change Pct Move YTD pct chg
LME Cu 7550.25 20.25 +0.27 -0.65
SHFE CU FUT OCT2 55180 -540 -0.97 -0.81
LME Alum 1900.50 4.50 +0.24 -5.92
SHFE AL FUT OCT2 15530 -75 -0.48 -1.96
HG COPPER SEP2 342.30 1.35 +0.40 -0.38
LME Zinc 1850.00 6.00 +0.33 0.27
SHFE ZN FUT OCT2 14690 -50 -0.34 -0.71
LME Nickel 16420.00 270.00 +1.67 -12.24
LME Lead 1865.00 5.00 +0.27 -8.35
SHFE PB FUT 14855 -75 -0.50 -2.84
LME Tin 18500.00 0.00 +0.00 -3.65
LME/Shanghai arb 1096
Shanghai and COMEX contracts show most active months
^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month
($1 = 6.3644 Chinese yuan)