By Hongmei Li

SINGAPORE, June 12 (Reuters) - London copper prices inched up on Thursday, though analysts expect continued volatility amid persistent uncertainty over trade tariffs and underlying market fundamentals.

Three-month copper on the London Metal Exchange CMCU3 gained 0.2% to $9,663.5 per metric ton by 0100 GMT, while the most-traded copper contract on the Shanghai Futures Exchange SCFcv1 lost 0.7% to 78,660 yuan ($10,935.94) a ton.

The U.S. dollar slid after data showed inflation in the world's largest economy rose less than expected in May, suggesting that the Federal Reserve could resume cutting interest rates sooner rather than later.

A weaker dollar typically supports metal prices by making them more attractive to buyers using other currencies.

"The U.S.-China trade deal induced a muted response from the metal markets," ANZ said.

On Wednesday, U.S. President Donald Trump said he was "very happy" with a trade deal that restores a fragile trade truce with China, removing Beijing's export curbs on rare earths and allowing Chinese students access to U.S. universities.

While the trade deal eased copper market concerns, uncertainties continue to linger, SHMET, a Shanghai-based commodity research house, said, adding that inventories in LME warehouses are down while China's domestic copper stocks are up.

Rising inventories can point to softening demand.

Among other LME metals, zinc CMZN3 added 0.1% to $2,656.5 per ton, nickel CMNI3 rose 0.1% to $15,190, while tin CMSN3 fell 0.3% to $32,555 and lead CMPB3 eased 0.1% to $1,986.

Among other SHFE metals, aluminium SAFcv1 gained 0.6% to 20,285 yuan a ton, zinc SZNcv1 rose 0.1% to 22,035 yuan, nickel SNIcv1 fell 0.8% to 120,520 yuan and tin SSNcv1 lost 0.3% to 264,330 yuan.

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TOP/MTL or MET/L DATA/EVENTS $(GMT.NZ)$

0600 UK GDP Est 3M/3M April

0600 UK GDP Estimate MM, YY April

0600 UK Services MM, YY April

0600 UK Manufacturing output April

1230 US Initial Jobless Clm Weekly

1230 US PPI Machine Mfg May

1600 US Federal Reserve issues Quarterly

Financial Accounts of the United States

($1 = 7.1928 Chinese yuan)

(Reporting by Hongmei Li; Editing by Sumana Nandy)

((hongmei.li@thomsonreuters.com;))

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