India copper up on bailout hopes, supply disruption
MUMBAI, Oct 1 (Reuters) - India's copper futures opened up on Wednesday as a U.S. senate agreement to vote on the $700 billion bailout package restored some confidence in the financial markets, an analyst said.
Prices also took support from news of supply disruption after workers in Xstrata's (XTA.L: Quote, Profile, Research) Kidd Metallurgical operations in Canada went on strike after contract talks failed.
At 10.32 a.m., the benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) was up 0.55 percent at 303.85 rupees per kg.
However, broader gains in copper will be capped as investors continue to remain concerned about the global financial turmoil, the analyst added.
At 10.33 a.m., October zinc MZIV8 was up 0.31 percent to 80.20 rupees a kg and October lead MLDV8 was up 0.40 percent at 87.35 rupees per kg.
(Reporting by Nandita Bose; Editing by Prem Udayabhanu)
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