India copper edges lower on stockpiles, rupee

MUMBAI, Nov 18 (Reuters) - India copper futures were slightly lower on Wednesday morning, weighed by rising stockpiles in the London Metal Exchange and a slightly higher rupee, analysts said.

The most-traded November copper MCCX9 was 0.17 percent lower at 315.85 rupees per kg at 10:40 a.m. "320 (rupees) would be a strict resistance," said Murukesh Kumar, senior research analyst, JRG Wealth Management.

Copper stocks in the warehouses monitored by the London Metal rose 3,550 tonnes to 410,000 tonnes. <0#LME-STOCKS>

The Indian rupee nudged higher as traders unwound long dollar positions, with the U.S. unit easing against majors.[INR/]

A stronger rupee makes the dollar-quoted asset cheaper.

Copper may trade in the range of 313-320 rupees, said Tejas Seth, a senior research analyst with SMC Comtrade.

In other base metals, zinc for November delivery MZIX9 was 0.10 percent higher at 103.90 rupees per kg, while November lead MLDX9 was 0.05 percent lower at 108.75 rupees per kg. (Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)