BEIJING, Feb 28 (Reuters) - Shanghai metals mostly lost ground on Wednesday after new U.S. Federal Reserve Chairman
Jerome Powell's pledge to stick with gradual increases in interest rates boosted the dollar, and as China's manufacturing
growth slowed more than expected. "Fed Chair Powell's testimony to the House Financial Services Committee was supportive of the USD as he indicated
that the recent market swings have not changed the Fed's policy going forward," brokerage Marex Spectron wrote in a note. A stronger dollar makes metals more expensive for holders of
other currencies, weighing on prices. FUNDAMENTALS: * SHFE COPPER: The most-traded April copper contract on the Shanghai Futures Exchange slipped 1.3 percent to 52,660
yuan ($8,324.38) a tonne by the midday interval, on course to end February 1.4 percent lower than it started the month. * LME COPPER: Three-month copper on the London Metal
Exchange edged down 0.1 percent to $7,014.50 a tonne by 0438 GMT, giving up early gains after Tuesday's 1.3 percent dip. * USD: The dollar stood near a three-week high against a
basket of currencies on Wednesday after Fed Chairman Powell's upbeat views on the U.S. economy bolstered bets on further interest rate hikes this year.
* CHINA: Growth in China's manufacturing sector in February slowed more than expected to the weakest in over 1-1/2 years as
Lunar New Year holidays disrupted business activity and tougher pollution rules curtailed factory output. * OTHER METALS: Shanghai zinc, nickel and
lead were down 1.2 percent, 0.7 percent and 1.7 percent, respectively. Only aluminium was in positive territory, rising 0.2 percent. Shanghai aluminium, though, is
still on track for a monthly slide of 3 percent. * ALUMINIUM: The U.S. Commerce Department said on Tuesday it had made a final determination that imports of aluminium foil
from China are being sold in the United States at less than fair value and producers are benefiting from subsidies from Beijing.
