* Chinese bargain hunters surface after copper price correction * Freeport's Grasberg copper mine workers set one-month strike date * Coming Up: US ISM non-manufacturing index for August at 1400 GMT. By Melanie Burton LONDON, Sept 6 (Reuters) - Copper was slightly steadier on Tuesday as an earlier price correction enticed bargain hunting from top consumer China, cushioning prices, but concerns about slowing growth in the world's top economies muddied the metal's demand picture Three-month copper on the London Metal Exchange (LME) traded at $8,976 a tonne at 1035 GMT, up 0.2 percent against a close of $8,960 a tonne on Monday. Earlier in the session prices hit a trough of $8,870 a tonne, the lowest in 10 days, and remain more than 10 percent from record highs of $10,190 touched in February. A pick up in volumes on the LME and a price differential between London and Shanghai markets moving in favour of imports, suggest that some Chinese consumers see value in copper at current levels. "The Chinese physical market is there, but they are waiting....They've seen the ongoing consumption weaknesses taking place in the Europe and the U.S., and they're waiting for prices to come back to them," said Steve Hardcastle, head of metals trading at Sucden Financial Renewed worries about the euro zone's ability to solve its debt problems, while bond yields climb, signalling sovereign debt will be a main driver across markets this week, FastMarkets said. "With bond yields rising in Europe again the market is likely to be focused on sovereign debt and European banks," said FastMarkets in a note. "The base metals continue to retreat as they give back some of the ground gained in late August -- however they are all well above the lows from early August and therefore the pull back could still be seen in terms of consolidation." Switzerland's central bank stepped in to stop investors driving up the franc on Tuesday and stifling a tentative European stock recovery from sharp losses a day earlier. Concerns have also intensified over U.S. economic health after last week's labour report showed that employment growth stalled in August. A speech by President Obama on Thursday will be closely watched for signs pointing to easier monetary policy. The U.S. return from Monday's Labor Day holiday could also help set near term direction. TOOLS DOWN Adding to support for copper was the prospect of more industrial action that could further stress an already tight supply pipeline. Workers at the third-biggest copper mine, Freeport McMoRan Copper & Gold's Grasberg in Indonesia, are set to strike from Sept. 15 to Oct. 15 unless the firm meets their demands for a pay rise. Meanwhile, workers at Peru's No. 3 copper mine Cerro Verde will launch a 48-hour strike on Sept. 7 to win higher pay. "This highlights the vulnerability of mine supply, which on top is struggling to keep up due to falling ore grades," said Credit Suisse Private Banking in a note. "Thus, tightening pressures are unlikely to disappear any time soon but to account for the uncertain economic environment, we think it is advisable to protect existing long positions." In other metals, zinc , used in galvanizing, was at $2,185.75 a tonne from $2,172 at Monday's close. The Glencore International-controlled Perkoa zinc mine in Burkina Faso will start shipments of concentrate in mid-2012 after years of delays, building to an annual rate of 90,000 tonnes contained metal, joint venture partner Blackthorn Resources said on Tuesday. Battery material lead was at $2,418.50 from a last bid of $2,430 and aluminium was at $2,386 from $2,387.50. Nickel was at $20,850 from $20,890. Tin changed hands at $23,900, down from $23,950. Reflecting new orders for LME stock, tin cancelled warrants have climbed to 11 percent of total LME tin inventories, LME data showed. <0#MSNSTX-LOC> Metal Prices at 1036 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2009 Ytd Pct move COMEX Cu 407.50 -3.85 -0.94 334.65 21.77 LME Alum 2387.50 0.00 +0.00 2230.00 7.06 LME Cu 8959.00 -1.00 -0.01 7375.00 21.48 LME Lead 2430.00 -30.00 -1.22 2432.00 -0.08 LME Nickel 20890.00 0.00 +0.00 18525.00 12.77 LME Tin 23950.00 0.00 +0.00 16950.00 41.30 LME Zinc 2172.00 0.00 +0.00 2560.00 -15.16 SHFE Alu 17295.00 -50.00 -0.29 17160.00 0.79 SHFE Cu* 67000.00 -100.00 -0.15 59900.00 11.85 SHFE Zin 16855.00 -90.00 -0.53 21195.00 -20.48 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07 (Reporting by Melanie Burton; Editing by Anthony Barker)

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