RTRS: India copper down on continuing financial woes
MUMBAI, Nov 24 (Reuters) - India copper futures opened lower on Monday as worries about the health of the global economy continue to cloud the market, analysts said.
At 10.36 a.m., benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) was down 1.13 percent at 175.6 rupees per kg.
Copper prices are expected to weaken further during the day on uncertainity about the widening global financial turmoil and the subsequent demand for industrial metals, analysts said.
China's imports of refined copper rose 31.5 percent on year and 14.9 percent on month in October but failed to underpin prices. [nHKG4104]
The imports were largely price-driven, a result of arbitrage trade between London and Shanghai, and were not necessarily indicating demand in China, analysts said.
At 10.37 a.m., benchmark November zinc MZIX8 was up 0.25 percent at 59.3 rupees and November lead MLDX8 was down 0.08 percent at 58.9 rupees per kg.
(Reporting by Nandita Bose; Editing by Rohini Ananthan)