Jan 18 (Reuters) - Copper prices rose in London on Thursday, rebounding from a six-week low hit in the previous session, as a softer dollar made greenback-priced metals cheaper for holders of other currencies.

Three-month copper on the London Metal Exchange (LME) rose 0.5% to $8,311.50 per metric ton by 0111 GMT, while the most-traded March copper contract on the Shanghai Futures Exchange fell 0.3% to 67,730 yuan ($9,412.17) a ton.

The dollar index eased from a one-month peak versus major peers.

However, copper is still on track for the fourth straight week of losses on both bourses, weighed down by a strong dollar as bets of U.S. rate cuts receded.

On the COMEX, short positions on copper shot up in the first week of 2024, and money managers turned net short on copper by Jan. 9 for the first time since Nov. 14 last year, latest data showed.

"The dollar's upside is largely driven by weakening expectations of an early cut from the Fed this year. We expect this narrative to continue into Q2 2024, keeping base metals trading at the lower end of recent ranges," broker Sucden Financial said in a note.

LME aluminium rose 0.4% to $2,186 a ton, zinc advanced 0.4% to $2,476, while nickel fell 0.2% to $16,055, lead eased 0.1% to $2,063, and tin edged down 0.1% at $25,215.

SHFE aluminium eased 0.5% to 18,775 yuan a ton, nickel shed 0.3% to 127,220 yuan, zinc dropped 1.6% to 20,860 yuan, while lead rose 0.1% to 16,230 yuan and tin was almost unchanged at 213,290 yuan.

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DATA/EVENTS (GMT)

1330 US Housing Starts Number Dec

1330 US Initial Jobless Claim weekly

1330 US Philly Fed Business Index Jan

1615 Switzerland ECB President Christine Lagarde,

Eurogroup President Paschal Donohoe and

Deutsche Bank CEO Christian Sewing speak

in Davos

($1 = 7.1960 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)