Reuters reported that London copper gained slightly after dropping more than 2% in the prior session as data showing China's inflation cooled further in June helped counter a bleak US jobs report.

Fundamentals
1. Three month copper on the London Metal Exchange edged up 0.3% to USD 7,550.25 per tonne by 0158 GMT snapping three sessions of losses.

2. The most active October copper contract on the Shanghai Futures Exchange fell about 1% to CNY 55,180 per tonne tracking the drop in LME prices in the previous session and headed for its third session of losses.

3. China's annual consumer inflation cooled to 2.2% in June, from May's 3.0%.

4. US employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy.

5. 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.

6. Investors are eyeing China's GDP numbers due later this week for more trading cues.

7. On a positive note, another month of weaker than expected US hiring has raised the chances in favour of the Fed launching a new round of monetary stimulus to boost growth.

8. 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.

9. In industry news, BHP Billiton will tighten global copper supply from late 2013 onward if it postpones work on its single biggest project, the USD 30 billion expansion of the Olympic Dam mine in Australia.

Source - Reuters

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