* Euro falls on caution over debt crisis response * China industrial output due Thursday a key data point * Copper price rangebound in seasonally slow period By Susan Thomas and Melanie Burton LONDON/SINGAPORE, Aug 6 (Reuters) - Copper dipped on Monday as the dollar firmed and calm returned to markets after Friday's rally on a U.S. jobs report that eased concerns about the world's largest economy and a pledge by top metals consumer China to support growth. A seasonally slow period for industrial demand due to summer holidays in the northern hemisphere is keeping copper volumes in check and prices rangebound between $7,200 and $7,800 per tonne, where they have been stuck since late May. Prices may be jolted out of this range if China's economy, as analysts expect, picks up late in the third quarter or early in the fourth quarter and if there is no further marked deterioration the euro zone's finances. London Metal Exchange (LME) three-month copper was down 0.22 percent at $7,428 per tonne at 0959 GMT, from Friday's close of $7,445 when it rose 1.6 percent, its biggest one-day gain since July 13. Those gains were capped, however, by lingering concerns about the debt crisis in Europe. "After a massive move upwards it's not unrealistic to see something of a correction and the market is again having another look at what is going on fundamentally, and it's not as positive as what the market thought last week," said Commerzbank analyst Eugen Weinberg. "Longer term we see a bottoming out process, which is likely to soon be over and stabilisation of the market. We're likely to see falling (metals) inventories, mine closures in some metals and a pick up in Chinese (metals) buying." China's central bank pledged on Sunday to intensify fine-tuning of monetary policy in the second half of this year and to improve credit policy to bolster the real economy, echoing earlier government commitments amid an economic slowdown. Chinese industrial production for July, alongside retail sales and inflation data, is due on Thursday. Those figures will be important for the base metals market because China is the world's top consumer of most industrial metals, accounting for 40 percent of refined copper demand last year. "With the Q2 2012 earnings reporting season slowly fading out, the main market movers for this and next week are likely to be macro data, most importantly the industrial production data in Europe and China," Credit Suisse said in a note. PMIs NEXT Investors will also look out for China's August Purchasing Manufacturers Index, which will be released at the beginning of next month. "If the August print is lower, that would be one thing. If the number is below 50 (indicating a contraction), we are likely to see copper prices under renewed pressure," RBC Capital said in a note. The euro fell on Monday, as the dollar firmed, with investors cautious about the effectiveness of European policymakers' latest pledges of action to resolve the euro zone debt crisis. A stronger dollar makes commodities more expensive for holders of other currencies. In other metals, tin was down 0.3 percent at $17,850 from $17,900 at the close on Friday, z inc was $1,838 f rom $1,840, lead was $1,886 from $1,895 and aluminium was $1,862 from $1,860. Nickel was at $15,615 from $15,625. Metal Prices at 0958 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2011 Ytd Pct move COMEX Cu 336.30 -0.45 -0.13 344.75 -2.45 LME Alum 1861.00 1.00 +0.05 2020.00 -7.87 LME Cu 7426.50 -18.50 -0.25 7600.00 -2.28 LME Lead 1886.25 -8.75 -0.46 2034.00 -7.26 LME Nickel 15610.00 -15.00 -0.10 18650.00 -16.30 LME Tin 17800.00 -100.00 -0.56 19200.00 -7.29 LME Zinc 1839.00 -1.00 -0.05 1845.00 -0.33 SHFE Alu 15370.00 20.00 +0.13 15845.00 -3.00 SHFE Cu* 54610.00 310.00 +0.57 55360.00 -1.35 SHFE Zin 14620.00 70.00 +0.48 14795.00 -1.18 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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