Nov 11 (Reuters) - London copper prices rose on Wednesday as the U.S. dollar softened on news about a potential COVID-19 vaccine, making the greenback-priced metals more attractive to holders of other currencies.
Three-month copper on the London Metal Exchange rose 0.2% to $6,946 a tonne by 0207 GMT, hovering near its highest since June 2018 hit on Monday at $7,054 a tonne.
The dollar - which is considered a safe haven and so typically falls on positive news - was flat as investors remained optimistic about progress towards a COVID-19 vaccine.
The most-traded December copper contract on the Shanghai Futures Exchange dipped 0.6% to 51,840 yuan ($7,855.62) a tonne.
FUNDAMENTALS
* LME aluminium rose 0.8% to $1,923.50 a tonne and ShFE aluminium climbed as much as 1% to 15,100 yuan a tonne, its highest since November 2017.
* The discount of cash aluminium over the three-month
contract
* Copper cathode output at China's 22 copper smelters fell 5.4% on-year in October to 741,900 tonnes due to maintenance at two major plants, research house Antaike said.
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MARKETS NEWS
* Asian shares rose as hopes for a successful coronavirus vaccine lifted expectations of a swift reopening of the global economy, which would help the region's heavily trade-dependent markets.
DATA/EVENTS (GMT)
No major data/events expected on Wednesday
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 = 6.5991 yuan) (Reporting by Mai Nguyen, Editing by Sherry Jacob-Phillips)