RTRS: India copper edges lower after 2 days of gains
India's copper futures edged lower on Friday tracking global markets, after gaining more than 2.5 percent in the two previous sessions, analysts said.
A weaker rupee would restrict losses later in the session, they added.
At 10:49 a.m., three months London copper was 0.55 percent lower at $3,279 a tonne after hitting a low of $3,265 earlier.
"Copper would remain sideways to lower for the day as there are no major economic indicators," said Tejas Seth, SMC Global in Delhi.
The benchmark copper February MCCG9 was down 0.43 percent to 161.05 rupees per kg at 10:50 a.m.
Copper may trade in the range of 150-168 rupees for the day, said Amrut Deshmukh, a senior technical analyst with Way 2 Wealth Securities in Mumbai, adding the long-term range is 145-175 rupees.
At 10:50 a.m., February zinc MZIG9 was 0.27 percent lower at 55.00 rupees per kg, while lead MLDG9 was almost steady at 53.40 rupees per kg. (Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
