MUMBAI, June 23 (Reuters) - India's copper futures are expected to open steady on Tuesday tracking overseas markets, analysts said.
Prices, however, are expected to trade weak later in the day as concerns about the global economy and slowing demand is expected weigh on sentiment, analysts said.
Demand concerns were reinforced after China's imports of refined copper surged to a record level for the fourth straight month in May, and gave rise to worries that buying from the largest consumer may dry up after months of record imports.
Investors also awaited the Federal Reserve's two-day policy meeting starting later in the day for further cues, analysts said.
The benchmark June copper MCCM9 on the Multi Commodity Exchange of India (MCX) on Monday ended down 3.47 percent at 230.6 rupees. It may open between 230-231 rupees per kg, one analyst said.
June zinc MZIM9 ended down 2.63 percent at 72.15 rupees and lead forJune delivery MLDM9 ended down 1.83 percent at 79.2 rupees per kg.
GOLD:
India's gold futures are seen opening steady with a downside bias on Tuesday as the dollar's strength is seen weighing on prices and as investors awaited the outcome of the Fed meeting, analysts said.
A strong dollar reduces the yellow metal's appeal as an alternate investment.
