India copper marginally up; aluminium weak

MUMBAI, July 17 (Reuters) - India's copper futures continued to remain little changed on Thursday with higher inventories on the LME keeping the outlook for demand dim, analysts said. Copper prices were seen coming down "with strike threats reducing and declining industrial production numbers across the countries," said Harish Galipelli, head of research at Karvy Comtrade Ltd. Copper inventories on the London Metal Exchange rose 2,200 tonnes to 127,900 tonnes on Thursday. At 7:17 p.m., the benchmark August copper MCCQ8 was at 348.65 rupees per kg, up 0.35 percent. Galipelli said the August contract may range within 342 rupees and 350 rupees in the evening session with a bias on the downside. Copper prices were under pressure from concerns over weakening demand in China, with data on Tuesday showing that imports of refined copper and copper alloy slipped 17 percent in June from May. ALUMINIUM, ZINC: Aluminium fell on Thursday on weak demand from top consumer China and on lower oil prices, analysts said. "The demand from China is coming down," said Hitesh Jain, an analyst with IL&FS Investsmart. Source: Reuters