Jan 17 (Reuters) - Copper prices inched lower on Monday as the dollar held firm amid bets of several interest rate hikes this year by the U.S. Federal Reserve. Three-month copper on the London Metal Exchange was down 0.1% at $9,713.5 a tonne by 0310 GMT. Prices fell 2.4% on Friday, its biggest decline since Nov. 26. The most-traded February copper contract on the Shanghai Futures Exchange fell 2.1% to 69,950 yuan ($11,014.19) a tonne. The dollar held to gains, after bouncing off a more than two-month low in the previous session, making greenback-priced metals more expensive to holders of other currencies. However further declines were limited by persistently low inventory levels. On-warrant LME copper inventories were at 78,375 tonnes, down 67% from August highs. Stocks in warehouses monitored by the Shanghai Futures Exchange were at 30,330 tonnes, hovering close to their lowest level since 2009. FUNDAMENTALS * LME aluminium edged 0.2% higher to $2,983 a tonne, nickel fell 0.9% to $22,005 a tonne, lead edged 0.4% higher to $2,364, zinc was down 0.2% at $3,512.5 and tin gained 0.4% to $40,510. * The premium for cash nickel over the three-month contract jumped to $376.50 per tonne, highest since April 2009, suggesting tightness in nearby supplies. Meanwhile nickel inventories in LME-registered warehouses were at 97,746 tonnes, the lowest since December 2019. * Stocks in Shanghai Futures Exchange warehouses are close to record lows at 4,711 tonnes. * ShFE aluminium fell 0.7% to 21,075 yuan a tonne, nickel was down 1.3% at 161,990 yuan, zinc dropped 1.9% to 24,445 yuan, lead rose 0.4% to 15,640 yuan and tin dipped 0.5% to 305,480 yuan. * China"s aluminium output for 2021 hit a record high, official data showed on Monday, though monthly output in December fell from the corresponding period in the previous year. read more * China"s economy grew 4.0% in the fourth quarter from a year earlier, faster than expected but its weakest expansion in one-and-half years. read more * For the top stories in metals and other news, click or MARKETS NEWS * Asian share markets were choppy on Monday as a slew of Chinese economic data confirmed the deadening effect of coronavirus restrictions on consumer spending, prompting Beijing to again ease monetary policy. DATA/EVENTS (GMT) 1400 Meeting of EU finance ministers in Brussels World Economic Forum holds annual meeting (to Jan. 22) Bank of Japan holds Monetary Policy Meeting (to Jan. 18) ($1 = 6.3509 Chinese yuan)