RTRS: India copper seen opening steady to up, gold steady
MUMBAI, Oct 29 (Reuters) - India's copper futures are expected to open steady with an upside bias on Wednesday, taking support from rebounding global equity markets, analysts said.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Tuesday ended up 2.09 percent at 212.75 rupees. It may open around 213-213.5 rupees per kg, one analyst said.
Copper prices are expected to rise later in the day on growing signs that producers are responding to low prices by cutting output and shelving expansion plans, analysts said.
October zinc MZIV8 ended down 3.78 percent at 56.05 rupees and lead for October delivery MLDV8 ended up 6.35 percent at 69.5 rupees per kg.
GOLD:
India's gold futures are expected to open little changed on the MCX on Wednesday, though firm overseas markets may put upward pressure, an analyst said.
The benchmark December gold MAUZ8 is likely to open between 11,990 rupees per 10 grams to 12,000 rupees from its closing at 12,042 rupees on Monday, the analyst added.
(Reporting by Ruchira Singh and Nandita Bose; Editing by Ramya Venugopal)
