MUMBAI, Nov 17 (Reuters) - India copper futures were almost steady on Tuesday as support from a weak rupee was offset by rising stockpiles at the London Metal Exchange, analysts said. The most-traded November contract MCCX9 on the Multi Commodity Exchange (MCX) was 0.06 percent lower at 314.30 rupees per kg at 4:15 p.m. The Indian rupee weakened on Tuesday afternoon tracking a sudden sharp rise in the dollar versus major units overseas, and also weighed down by a choppy sharemarket. [INR/] A weak rupee makes the dollar-quoted asset expensive. Rising stockpiles gave a downward push to the red metal. Copper stocks in warehouses monitored by the London Metal Exchange rose by 3,550 tonnes to 410,000 tonnes on Tuesday. <0#LME-STOCKS> "The bias is on the negative side, support is seen at 312/309 rupees," said Navneet Damani, an analyst with Anand Rathi Commodities. "Only if it stays above 320 levels, further upside could be witnessed till 335/345 rupees," said Parag Joshi, an analyst with Way 2 Wealth Securities. In other base metals, zinc November MZIX9 was 0.43 percent lower at 103.15 rupees per kg, while lead for November delivery MLDX9 was 0.55 percent lower at 108.30 rupees per kg. (Reporting by Siddesh Mayenkar; Editing by Sunil Nair)

Source