India's copper futures fell 2.5 percent on Wednesday, extending losses for a third consecutive session, tracking weak global markets, analysts said. At 5:29 p.m., three-month LME copper was down 2.17 percent to $3,408.50 a tonne reflecting losses across industrial metals as weak Chinese imports added to disappointment over the U.S. bank rescue plan unveiled in the previous session. "Copper will trade range-bound with downward bias," said Pravin Singh, an analyst with Sharekhan Commodities in Mumbai. "We are getting bad numbers from every economy." Copper should expect a downside of 160 rupees in the near-term, said Singh, adding it may trade in the range of 160-171 rupees for the day. The benchmark February copper contract MCCG9 was down 1.94 percent to 166.40 rupees per kg at 5:30 p.m., after hitting a low of 165.3 rupees earlier. "Any rally towards 170 (rupees) could be a selling opportunity with a target of 157 rupees," said Navneet Damani, an analyst with Anand Rathi Commodities in Mumbai. "For copper, supports are placed at 165-162, and resistances are pegged at 167.5-171," said Vishal Maniyar, an analyst with Karvy Comtrade in Hyderabad. Higher copper inventories in the London Metal Exchange also pressured the red metal, analysts said.

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