India copper Mines stockpiles

Copper stocks in the LME rose by 475 tonnes to 432,075 tonnes on Thursday. <0#LME-STOCKS> In other base metals, zinc November MZIX9 was 0.58 percent lower at 103.65 rupees per kg, while lead for November delivery MLDX9 was 0.69 percent lower at 107.95 rupees per kg.

India copper futures were flat on Friday as support from a weaker rupee was offset by pressure from rising inventories in the London Metal Exchange (LME), analysts said. The most-traded November contract MCCX9 was 0.05 percent lower at 317.85 rupees per kg at 10:30 a.m.

The Indian rupee fell weighed down by weak Asian shares following Dubai’s debt problems. [INR/] A weak rupee makes the dollar-quoted asset expensive.”It may get supported in early part of the session by a weaker rupee, but the strategy is to sell on rise. Support is placed at 314 rupees,” said Kunal Shah of Nirmal Bang Commodities.