India's copper futures are expected to open down on Thursday on profit-taking after prices hit their upper limit in the previous session, an analyst said.
Prices are however expected to turn positive later in the day on the back of stronger-than expected macroeconomic data from the U.S., analysts said.
Copper prices are expected to wait for further cues from the stress tests on U.S. banks and the ECB meeting due later in the day, analysts said.
The benchmark June copper MCCM9 on the Multi Commodity Exchange of India (MCX) on Wednesday ended up 4.88 percent at 238.65 rupees. It may open around 237-236 rupees per kg, one analyst said.
May zinc MZIK9 ended up 5.81 percent at 78.3 rupees and lead for May delivery MLDK9 ended up 3.59 percent at 72.05 rupees per kg in the previous session.
GOLD:
India's gold futures are seen opening steady on Thursday taking cues from overseas markets, analysts said.
Gold prices are expected to wait for further cues from the stress tests on U.S. banks and the ECB meeting due later in the day, analysts said.
The benchmark June gold MAUM9 is likely to open around 14,470-14,460 rupees per 10 grams, one analyst said.
On Wednesday it ended at 14,486 rupees, up 0.74 percent.
