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BEIJING, Aug 1 (Reuters) - London copper prices slipped to a three-week low on Thursday after Federal Reserve Chairman Jerome Powell said the U.S. central bank's first rate cut since 2008 was not the start of a long easing cycle, while Sino-U.S. trade talks appeared to have made little progress. The Fed lowered interest rates by the expected 25 basis points, but the dollar jumped on Powell's comments, making dollar-denominated metals more expensive for holders of other currencies and weighing on prices.
* COPPER: Three-month copper on the London Metal Exchange dropped for a third session, by as much as 0.6% to $5,893.50 a tonne, the lowest since July 10. It stood at $5,912 a tonne, as of 0154 GMT. The most-traded September copper contract on the Shanghai Futures Exchange dropped 0.5% to 46,610 yuan ($6,757.03) a tonne.
* USD: The dollar rose to a two-year peak against the euro and hit a two-month high versus the yen.
* TRADE: U.S. and Chinese negotiators ended a round of trade talks with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world's top two economies.
* OTHER METALS: Zinc was the laggard in London, falling by as much as 1.1% to $2,417.50 a tonne. Tin was the only LME metal to rise, adding 0.6% to $17,425 a tonne.
* CHINA: Pressure on China's factories eased a little in July due to growth-boosting steps from the government, but overall manufacturing activity remained in contraction, a private survey showed on Thursday. The readings were largely in line with an official gauge that showed factory activity last month shrank at a slower-than-expected pace.
* ALUMINIUM: A Chinese billionaire has been indicted by a grand jury on charges he schemed with the aluminium company he founded to evade $1.8 billion of tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said on Wednesday.
* Asian shares fell to six-week lows after the Fed poured cold water on market expectations of a lengthy easing cycle.
DATA AHEAD (GMT)
0500 India IHS Markit Mfg PMI July0755 Germany Markit/BME Mfg PMI July0800 EU Markit Mfg Final PMI July0930 UK Markit/CIPS Mfg PMI July1100 UK BOE Bank Rate Aug1100 UK GB BOE QE Corp Aug1200 Brazil Industrial Output MM YY June1230 US Initial Jobless Claims Weekly1300 Brazil Markit Mfg PMI July1345 US Markit Mfg PMI Final July1400 US ISM Manufacturing PMI July
BASE METALS PRICES 0154 GMTThree month LME copper 5912Most active ShFE copper 46610Three month LME aluminium 1795Most active ShFE aluminium 13860Three month LME zinc 2425Most active ShFE zinc 19335Three month LME lead 2000.5Most active ShFE lead 16430Three month LME nickel 14395Most active ShFE nickel 113350Three month LME tin 17425Most active ShFE tin 134790
($1 = 6.8980 Chinese yuan)
(Reporting by Tom Daly, Editing by Sherry Jacob-Phillips)