Copper Slips From Multi-year Highs On Profit Taking

Dec 2 (Reuters) - Copper fell on Wednesday, du lịch bắc kinh 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, du lịch bắc kinh 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)