METALS-Copper extends falls as stronger dollar, slow China demand weigh

BEIJING, Sept 17 (Reuters) - Copper futures fell on Wednesday for a second straight session, weighed down by a stronger dollar and top consumer China's slowing demand suppressed by elevated prices.

The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 was down 0.73% at 80,500 yuan ($11,324.15) per metric ton, as of 0324 GMT. The contract touched the lowest level since September 12 at 80,380 yuan earlier in the session.

Benchmark three-month copper CMCU3 on the London Metal Exchange slipped 0.53% to $10.072.5 a ton.

Dollar firmed even as the U.S. Federal Reserve is expected to announce its final decision on an interest rate cut later in the day.

"The imminent rate cut has triggered a wave of profit-taking activities, sending prices lower. The market has fully priced in Fed rate cuts of 75 basis points for the remainder of the year," a Beijing-based trader said on condition of anonymity as he is not authorised to speak to media.

A stronger dollar =USD makes commodities priced in the greenback more expensive for buyers using other currencies.

Also, keeping prices under pressure was China's domestic demand skewing to the downside as elevated prices have aroused a wait-and-see mode from downstream consumers that are price sensitive, analysts at broker Maike Futures said in a note.

Additionally, Anglo American AAL.L and Chile's state-run Codelco have finalised an agreement to jointly operate their neighbouring Chilean copper mines in a deal.

Other SHFE metals were broadly weaker. Aluminium SAFcv1 dipped 0.26%, nickel SNIcv1 fell 1.01%, lead SPBcv1 shed 0.18%, tin SSNcv1 slipped 0.25%, and zinc SZNcv1 lost 0.34%.

Among other LME metals, aluminium CMAL3 lost 0.28%, nickel CMNI3 fell 0.73%, lead CMPB3 slid 0.4%, tin CMSN3 eased 0.58% and zinc CMZN3 shed 0.62%.

($1 = 7.1087 Chinese yuan)