METALS-Copper steady ahead of Fed conclusion
SINGAPORE, Sept 18 (Reuters) - London copper was treading water on Wednesday, underpinned by a slightly weaker dollar and steady Chinese demand in what is expected to be a quiet session ahead of a Federal Reserve announcement on the scale of its stimulus drawback.
* Three-month copper on the London Metal Exchange was barely changed at $7,080.25 a tonne by 0109 GMT, up 0.1 percent from the previous session when it finished little changed.
* Copper fell to its lowest in more than a month on Friday at $7,024 a tonne. Prices have been trending towards the lower end of their recent $7,000-$7,500 range in the past week.
* The most-traded December copper contract on the Shanghai Futures Exchange edged up 0.25 percent to 51,300 yuan ($8,400) a tonne.
* The Fed is expected to begin its long retreat from ultra-easy monetary policy on Wednesday by announcing a small reduction in its bond buying, while stressing that interest rates will remain near zero for a long time to come.
* The world's top aluminium producers and consumers are at loggerheads over the thorny issue of what price, or premium, should be paid to secure metal deliveries, and will conclude fewer fixed term supply deals this year, industry sources said.
* Supporters and opponents of a giant mine to tap Alaska's gold and copper wealth have found a rare point of agreement: The Pebble project remains alive even without its heavyweight financial backer.
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* The U.S. dollar held near a four-week trough against a basket of major currencies in early Asian trade on Wednesday as investors bet that any move by the Fed to roll back stimulus would be very modest.
1230 U.S. Building permits
1230 U.S. Housing starts
1800 Federal Open Market Committee ends policy meeting
1830 Fed Chairman Ben Bernanke holds news briefing
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Three month LME tin
($1 = 6.1215 Chinese yuan)
(Reporting by Melanie Burton; Editing by Joseph Radford)