Bullion: Sentiment stayed weak in the local bullion market during last week. Both the precious metals ruled dull on weak overseas advices.
Silver.999 which opened dull at Rs 7,625 per kg on Monday and weakened further to close at Rs 7,500 on Saturday, the week-end on weak international advices, subdued out-of-state demand and normal selling pressure locally.
Industrial offtake also remained dull. Silver.916 opened steady at Rs 7,510 a kg and lost Rs 135 to end at Rs 7,375 a kg during the week.
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Standard gold opened with a firm note at Rs 4,520 per 10 gram on Monday but weakened to close at Rs 4,360 on Saturday on weak international advices coupled with dull consumer demand.
The cacuse of fluctuations in yellow metal prices is said to be there price movements overseas. Gold 22 carat ruled dull and declined by Rs 145 to close at Rs 4,035 per 10 gramms during the week. Gold biscuits (116.50 gm piece) prices ruled weak too and lost Rs 1,950 at Rs 51,050 per piece on dull movements during the week.
Oils and Oilseeds: The local oils and oilseeds market displayed a weak tendency during the last week owing to reduced offtake coupled with easy arrivals from the upcountry centres.
The demand for most of the edible oil varities remained easy to steady during the week under review. Groundnut oil commenced with a better note at Rs 418 per 10 kg on Monday but it declined to close at Rs 415 per 10 kg on Saturday, the weekend on dull consumer offtake against moderate arrivals. The arrivals from AP, Karnataka and MP remained limited at about 5-7 trucks per day.
Cottonseed oil washed and copra oil white improved by Rs 5 each to Rs 310 and Rs 315 per 10 kg respectively on better industrial demand coupled with firm overseas advices.
Castor oil commercial and FSG qualities held overall steady Rs 236 and Rs 248 per 10 kg respectively on modest industrial demand coupled with subdued availability of ready stock.
Imported RBD palmolein and imported soya oil refined looked up by Rs 3 and Re 1 to Rs 238 and Rs 256 per 10 kg respectively on better enquires.
In oilseeds, kardiseeds improved by Rs 50 at Rs 1200 a quintal on improved industrial demand against subdued arrivals from the producing centres.
Meanwhile, all the other oilseeds ruled overall steady and were nominally quoted as under during the week. Nigerseeds Rs 1,700 and castorseeds Rs 1,030 a quintal respectively on steady industrial demand against limited inflows of ready stock from the upcountry centres.
Non-Ferrous Metals: A mixed trend was witnessed in the local non-ferrous metals mart during the last week. Virgin metals ruled easy to steady while scraps metals ruled mostly firm. The undertone of the market hinted weakness.
In virgins, nickel cathodes declined by Rs 3 at Rs 457 a kg on sluggish demand and easy arrivals from upcountry centres.
Tin slabs firmed up by Re 1 at Rs 366 a kg on short supply of ready stocks against better demand while copper wirebar and lead ingots looked up Re 1 and by Rs 1.50 to Rs 135 and Rs 41.00 a kg on improved enquires.
Meanwhile, all the other meals ruled overall steady and were nominally quoted as under aluminium ingots Rs 96.00 and zinc slabs Rs 80.00 a kg respectively on narrow movemens during the week.
In scraps, copper heavy scraps, brass sheetcuttings and aluminium utensils improved by Rs 2 and Re 1 each to Rs 122.00, Rs 101 and Rs 76.00 a kg respectively on reduced availability of ready stock against better industrial demand. While copper utensils and brass utensils firmed up by 50 paise each to Rs 108.00 and Rs 95.50 a kg respectively on firm overseas advices coupled with modest industrial demand.
Sugar: A moderately dull trend was noticed in the indigenous sugar prices at the Turbhe wholesale sugar market at Navi Mumbai during the last week. The demand was almost mixed against easy arrivals. Both the grades ruled weak.
Small grade sugar commenced with a steady note at Rs 1,440/1,478 a quintal on Monday and moderately declined to close at Rs 1,430/1,475 on Saturday at the week-end on reduced demand against modest availability of ready stock.
Medium grade commenced with an easy note at Rs 1,485/1,530 a quintal on Monday but eased to end at Rs 1,480/1,545 on Saturday, on modest local as well upcountry offtake.