India's copper futures were flat on Wednesday mirroring London markets, after the local February contract gained 1.2 percent in the previous session, but a firm rupee is expected to put pressure later in the day.
Three-month copper in London traded 0.39 percent higher at $3,310 a tonne at 10:35 a.m., after hitting a low of $3,290 earlier.
Analysts said copper would be pressured by rising inventories signifying weak demand for the industrial metal.
"We expect selling pressure to creep in to copper after yesterday's highs," said an analyst with a local commodity brokerage, adding it may trade in the range of 155-164 for the day.
Selling is recommended at 163 rupees with a stop loss of 165 and with a target of 156 rupees, added the analyst.
The benchmark February copper contract MCCG9 was 0.25 percent up at 161.70 rupees per kg at 10:36 a.m., after hitting an intra-day high of 173.75 rupees in the previous session.
At 10:36 a.m., January zinc MZIF9 was 0.18 percent lower at 54.90 rupees per kg, while January lead MLDF9 was 0.53 percent lower at 55.95 rupees per kg. (Reporting by Siddesh Mayenkar; Editing by Prem Udayabhanu)
