METALS-London aluminium snaps seven-day rally as profit-taking weighs

BEIJING, Aug 21 (Reuters) - Aluminium prices in London pulled back on Wednesday, snapping a seven-day rally, after traders locked in some profits and also assessed higher supply and weak demand from top consumer China. Three-month aluminium on the London Metal Exchange CMAL3 was down 1.3% at $2,469 per metric ton, as of 0136 GMT, having hit a five-week peak in the previous session. The most-traded September aluminium contract on the Shanghai Futures Exchange SAFcv1 edged 0.1% lower to 19,655 yuan ($2,755.89) a ton, taking a pause from a four-day winning streak. Easing concerns of a U.S. economic slowdown and supply tightness of alumina, the key ingredient to make aluminium, also supported prices earlier this week. However, the market was plagued by subdued demand in China and ample supply due to strong domestic production and more inflows from Russia. Investors are also bracing for comments from Federal Reserve Chair Jerome Powell due on Friday that could provide clues about the speed of the U.S. monetary easing cycle. LME copper CMCU3 shed 0.5% to $9,154 a ton, tin CMSN3 lost 0.6% to $32,100, zinc CMZN3 decreased 0.6% to $2,789, lead CMPB3 climbed 0.4% to $2,062.50 and nickel CMNI3 lost 1.2% to $16,835. SHFE copper SCFcv1 was down nearly 1% at 73,250 yuan, zinc SZNcv1 nudged 0.1% lower to 23,260 yuan, lead SPBcv1 moved 0.3% lower to 17,500 yuan, tin SSNcv1 dropped 0.8% to 262,180 yuan and nickel SNIcv1 added 0.1% to 130,080 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L ($1 = 7.1320 Chinese yuan) (Reporting by Siyi Liu and Mei Mei Chu; Editing by Sherry Jacob-Phillips) (([email protected];)) (( For related news and prices, click on the codes in brackets: LME price overview RING= COMEX copper futures 0#HG: All metals news MTL All commodities news C Foreign exchange rates FX= SPEED GUIDES LME/INDEX ))