* Euro hits near two-week high versus dollar on ECB hopes * Slower growth in China, euro zone risks to limit gains * Coming Up: U.S. ICSC chain stores weekly data; 1145 GMT By Maytaal Angel LONDON, (Reuters) - Copper edged up on Tuesday amid hopes that a strategy being drawn up by the European Central Bank will help alleviate the euro zone debt crisis, although prices look set to stay in a tight range as investors wait for more trading cues. The euro rose near a two-week high versus the dollar, as talk of ECB action to ease Spanish and Italian borrowing costs resurfaced, even though the central bank tried to quash such speculation on Monday. A strong euro makes dollar-priced copper cheaper for European investors. Overall though, gains in copper were likely to be limited by the intractable euro zone debt crisis, and as growth slows in top metal consumer China, while recovery stutters in the United States, the world's largest economy. "You've got hopes about the ECB again ... but the general trend hasn't changed much from July, we're still fairly rangebound," s aid Citi analyst David Wilson. "Markets are nervous about taking outright positions in either direction at the low $7,000's the general view is that copper won't go lower, and at $7,500 there isn't conviction on the upside." Three-month copper on the London Metal Exchange gained 1.13 percent to $7,539.50 per tonne by 0909 GMT, after dropping 1.1 percent in the previous session. Volumes were slim with 5,183 lots changing hands. Greek Prime Minister Antonis Samaras will meet German Chancellor Angela Merkel, French President Francois Hollande and Eurogroup chief Jean-Claude Juncker this week to try and secure more funding from the European Union, International Monetary Fund and ECB, even though Greece has fallen behind on its debt cut targets. In China meanwhile, risk assets including copper received a modest boost after local media reported the Chinese city Chongqing was planning to invest $236 billion in seven major industries. Import data from the world's top consumer, meanwhile, showed a marginal rise for July, with shipments of refined copper into China at 254,339 tonnes versus 250,097 tonnes in June. "For now, with no clear trading direction, LME copper will be stuck within a range of $7,200-$7,800. But downside risks will increase over the longer term as Chinese consumer demand remains weak with no sign of improvement in global economics," said Andy Du, derivatives director at Orient Futures. CHINA PHYSICAL ALUMINIUM MARKET WEAK In other metals traded, packaging metal aluminium rose 0.67 percent to $1,849.25, but remained not far off last week's low of $1,827.25, its weakest point since November 2009. Although the latest aluminium production figures point to falling daily output in China, physical traders said the market still feels sluggish. "There have been some aluminium imports for financing deals recently after the spreads narrowed, lowering losses for importers," said a Shanghai-based trader. "But the imports don't indicate improving consumer aluminium demand, which is still weak. Imported spot premia are about $230-$280, while in domestic trades, you get zero premium." Soldering metal tin rose 1.56 percent to $18,840 a tonne, having earlier hit $18,900, its best level in a month. Latest LME stocks data showed nearly half the exchange registered material is still 'cancelled' or set to leave warehouses. Also indicating tightness in nearby supply, cash tin was trading at a premium of $1 a tonne over the benchmark three-month price. Elsewhere, zinc, used in galvanizing rose 1.10 percent to $1,815.25, battery material lead rose 0.26 percent to $1,914, while stainless-steel ingredient nickel rose 0.44 percent to $15,618. Metal Prices at 0913 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 341.90 4.80 +1.42 334.65 2.17 LME Alum 1837.00 0.00 +0.00 2230.00 -17.62 LME Cu 7455.00 -84.00 -1.11 7375.00 1.08 LME Lead 1909.00 0.00 +0.00 2432.00 -21.50 LME Nickel 15545.00 -5.00 -0.03 18525.00 -16.09 LME Tin 18500.00 -50.00 -0.27 16950.00 9.14 LME Zinc 1796.00 0.00 +0.00 2560.00 -29.84 SHFE Alu 15250.00 20.00 +0.13 17160.00 -11.13 SHFE Cu* 55030.00 160.00 +0.29 59900.00 -8.13 SHFE Zin 14510.00 100.00 +0.69 21195.00 -31.54 ** 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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