MUMBAI, Nov 23 (Reuters) - India copper futures extended gains for a seventh consecutive day on Monday helped by a weak dollar and firm precious metals complex, shrugging off a 40 percent fall in China's October refined imports, analysts said.
The most-traded November copper contract MCCX9 was 0.53 percent higher at 324.25 rupees per kg at 3:35 p.m. It had gained 6.1 percent in the previous six sessions.
"Copper is just following dollar, gold and equities," said Praveen Singh, an analyst with Sharekhan Commodities.
"If copper breaches 326 rupees convincingly, we might see further upside till 333 rupees," said Singh.
The dollar fell broadly on Monday after dovish comments from a U.S. Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period. [USD/]
A soft dollar typically lifts dollar-denominated copper by making it cheaper for investors outside the U.S.
Gold at record highs also supported the base metals complex, they added.
China's refined copper imports in October fell 40 percent to 169,000 tonnes, or 60,000 tonnes below initial expectations.
"Fundamentals like demand are not supportive," said Singh.
In other base metals, zinc November contract MZIX9 was 1.15 percent higher at 105.90 rupees per kg, while lead for November delivery MLDX9 was 1.23 percent higher at 111 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Prem Udayabhanu) ((siddesh.mayenkar@thomsonreuters.com; +91-22-6636 9163; Reuters messaging:siddesh.mayenkar.thomsonreuters.com@reuters.net))
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