METALS-Aluminium hits over two-week low as US widens 50% tariff

BEIJING, Aug 20 (Reuters) - Aluminium extended its fall on Wednesday to hit its lowest level in more than two weeks, after the United States widened the 50% import tariff on the metal and its products.

The most-traded aluminium contract on the Shanghai Futures Exchange slid 0.44% to 20,500 yuan per metric ton as of 0202 GMT. Earlier in the session, it touched the lowest since August 4 at 20,430 yuan.

Benchmark three-month aluminium CMAL3 on the London Metal Exchange dipped 0.16% to $2,559.5 a ton, the lowest since August 5.

The U.S. Commerce Department said on Tuesday it is hiking steel and aluminum tariffs on more than 400 products that include wind turbines and appliances, and doesn't exclude goods in transit.

Meanwhile, investors are monitoring for any indications of a U.S. Federal Reserve rate cut.

"A cut to rates would likely provide some support for economic growth and boost demand for metals," ANZ analysts said in a note on Wednesday.

Additionally, China kept benchmark lending rates in August unchanged for the third consecutive month on Wednesday, as authorities signalled they are not in a rush to roll out monetary stimulus.

SHFE copper SCFcv1 fell 0.41%, nickel SNIcv1 slipped 0.77%, lead SPBcv1 lost 0.65%, zinc SZNcv1 was little changed, while tin SSNcv1 added 0.67%.

LME copper <CMCU3> was little moved, nickel CMNI3 shed 0.21%, lead CMPB3 ticked 0.28% lower, and zinc CMZN3 advanced 0.14%.