Dec 2 (Reuters) - Copper fell on Wednesday, as investors booked profits after prices rallied to multi-year highs in the previous session on coronavirus vaccine hopes and strong economic data from China.
Three-month copper on the London Metal Exchange fell 0.4% to $7,666.50 a tonne by 0256 GMT, retreating from $7,743 a tonne, a level unseen since March 2013, that was hit on Tuesday.
The most-traded January copper contract on the Shanghai Futures Exchange slipped from an over eight-year high to trade at 57,190 yuan ($8,720.65) a tonne, down 0.2%.
Both contracts have had strong rallies as investors were bullish about a global economic recovery following COVID-19 vaccine developments and positive manufacturing data coming out of top copper consumer China.
FUNDAMENTALS
* LME aluminium edged up 0.2% to $2,607.50 a tonne, nickel fell 0.5% to $16,200 a tonne, zinc rose 0.2% to $2,775 a tonne and lead dropped 1.0% to $2,067 a tonne.
* In Shanghai, aluminium climbed 1.1% to 16,810 yuan a tonne, nickel fell 0.7% to 119,770 yuan a tonne, zinc shed 1.3% to 21,130 yuan a tonne and lead dropped 2% to 15,025 yuan a tonne.
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MARKETS NEWS
* Asian shares shed early gains from a strong Wall Street lead, as some investors booked profits on a stellar run to record highs, but hope for additional U.S. economic stimulus and a COVID-19 vaccine kept market sentiment well supported.
DATA/EVENTS (GMT)
1000 EU Unemployment Rate Oct
1900 US Federal Reserve issues the Beige
Book of economic condition
PRICES
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
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
ARBS ($1 = 6.5580 yuan) (Reporting by Mai Nguyen; Editing by Shounak Dasgupta)