METALS-Base metals rise after Fed's bumper rate cut, China stimulus hope

(Updates prices) BEIJING, Sept 19 (Reuters) - Prices of most base metals rose on Thursday, following the long-awaited U.S. Federal Reserve interest rate cut and with bets of more stimulus in top metals consumer China. Three-month copper on the London Metal Exchange CMCU3 rose 1.1% to a two-month high at $9,500 per metric ton by 0718 GMT, extending the previous session's gains. The most-traded October copper contract on the Shanghai Futures Exchange SCFcv1 was up 1.6% at 75,640 yuan a ton, the highest since July 31. The U.S. central bank kicked off its monetary easing cycle on Wednesday with a larger-than-usual half percentage point reduction that Chair Jerome Powell said was meant to show the policymakers' commitment to sustaining a low unemployment rate now that inflation has eased. Shares of Chinese real estate developers rebounded after the Fed decision gave Beijing policymakers more room to stimulate China's weak economy. There's also speculation of China cutting its Loan Prime Rate (LPR) and mortgage rates to support the ailing housing market and stimulate growth recovery, a trader said. The real estate sector is a major consumer of industrial metals. Countering the supports was a firmer U.S. dollar, making the greenback-priced commodity more expensive. The dollar rose broadly, recovering from an earlier tumble in the immediate aftermath of the Fed decision. Meanwhile, China's refined copper output in August remained at a strong 1.12 million tons, up 0.9% from a year earlier. LME aluminium CMAL3 climbed 0.4% to $2,547 a ton, zinc CMZN3 increased 1% to $2,913.50, nickel CMNI3 rose 1.3% at $16,445, lead CMPB3 climbed 1% to $2,057 and tin CMSN3 moved 0.6% higher to $31,790. SHFE aluminium SAFcv1 rose 1% to 20,085 yuan a ton, nickel SNIcv1 added 1.6% to 125,920 yuan, zinc SZNcv1 gained 1.4% to 24,240 yuan, lead SPBcv1 ticked up 0.6% at 16,540 yuan and tin SSNcv1 moved 1.7% higher to 259,710 yuan. For the top stories in metals and other news, click TOP/MTL or MET/L (Reporting by Siyi Liu and Colleen Howe in Beijing; Mai Nguyen in Hanoi; Editing by Rashmi Aich, Sumana Nandy and Sharon Singleton) (([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 ))