MUMBAI, Nov 11 (Reuters) - India's copper futures are expected to open lower on Tuesday tracking markets in London, analysts said.
London Metal Exchange copper MCU3, which rose in the previous session after China announced a $600 billion stimulus plan, gave up its gains and traded lower as global demand concerns resurfaced, analysts said.
The benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) on Monday ended up 1.23 percent at 188.55 rupees. It may open around 187-186.5 rupees per kg, one analyst said.
Copper prices are expected to trade lower later in the day as concerns about the health of the global economy is expected to keep industrial metals under pressure, the analyst added.
November zinc MZIX8 ended down 0.56 percent at 52.9 rupees and lead for November delivery MLDX8 ended down 1.81 percent at 65 rupees per kg.
GOLD:
India's gold futures are expected to open flat or slightly lower on the MCX on Tuesday, tracking overseas leads, an analyst said.
Gold was a touch lower on Tuesday after ending 2 percent higher in the previous session, lifted by China's economic stimulus plan, which triggered a broad-based rally and stirred inflation worries. See [Id:nT154023]
The benchmark December gold MAUZ8 is likely to trade in the range of 11,450-11,650 rupees for the day, the analyst said. The contract closed at 11,587 rupees per 10 grams in the previous session. .
December silver MSVZ8 may open lower around 16,850 rupees from its closing at 16,960 rupees per kg. (Reporting by Nandita Bose and Siddesh Mayenkar; Editing by Prem Udayabhanu)
