(Updates prices)

June 27 (Reuters) - Copper futures slipped on Thursday,

a firmer dollar and uncertainty over economic recovery in top

consumer China pushed prices of the red metal to a more than

two-month low.

Three-month copper on the London Metal Exchange was

down 0.5% at $9,494.50 per metric ton, as of 0701 GMT, its

lowest since mid April.

After reaching a record high of $11,104.5 on May 20, prices

have fallen more than 14% amid sluggish data from China and

uncertainty surrounding U.S. interest rates.

China's industrial profit growth slowed sharply last month,

according to data, as weak domestic demand crimps overall

growth.

"We should see a second wave of price increases as we head

into the end of the month, more allocation away from expensive

U.S. equities and into relative value commodities. Also, there

is more Chinese stimulus to be announced," said a metals trader.

The most-traded August copper contract on the Shanghai

Futures Exchange eased 0.6% at 77,550 yuan

($10,669.18) a ton.

"Inventory levels of copper continue to surge in China,

while local premiums remain low, signalling little sign of

physical demand to back to euphoric positioning in the West,"

analysts at TD Securities said in a note dated Wednesday.

Chile's Codelco, one of the world's largest copper

producers, fell further behind its production target in May, an

internal document obtained by Reuters showed.

In the broader market, the dollar lingered near an

eight-week high against a basket of currencies. A stronger

dollar makes greenback-priced commodities less attractive to

holders of other currencies.

LME aluminium was trading 0.4% lower at $2,502 a

ton, nickel lost 0.2% to $17,025, zinc fell 0.4%

to $2,929.50, lead was down 0.1% at $2,191.50, and tin

little changed at $31,875.

SHFE aluminium fell 0.3% to 20,180 yuan a ton,

nickel was flat at 134,110 yuan, lead was up

0.5% at 19,215 yuan, while zinc climbed 1.5% to 24,120

yuan and tin firmed 0.2% at 267,030 yuan.

($1 = 7.2687 Chinese yuan)