Groundnut oil, yesterday continued to recover at the reduced levels while other industrial oils ruled easy-to-subdued on the wholesale oils and oilseeds market here.
Imported palmolein ruled firm on better demand coupled with modest arrivals. In the futures section, castorseeds September contract opened higher and further firmed up towards closing.
Groundnut oil improved by Re 1 at Rs 355 per 10 kg on restricted arrivals due to heavy rainfall and floods in Gujarat, the groundnut producing state. Demand remained better. Arrivals were put at around 80-85 tonnes a day.
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In other oils, mowra and sesame oil declined by Rs 5 each to Rs 240 and Rs 280 per 10 kg respectively on dull industrial demand and improved arrivals. Copra oil white dropped by Rs 15 at Rs 545 per 10 kg on reduced industrial offtake.
Sunflower oil expeller eased by Rs 2 to Rs 272 per 10 kg on dull demand from the industrial sector coupled with better availability. The majority of other oils ruled overall steady on narrow movements.
In the futures section, castorseed September contract opened Rs 3 higher at Rs 1,133 and firmed up to Rs 1,138 a quintal. It declined to Rs 1,132 before closing at Rs 1,134.
In oilseeds, nigerseeds Madras quality firmed up by Rs 10 at Rs 1,525 a quintal on better industrial offtake. All oilseeds ruled overall steady.
Sugar: A firm-to-upward trend was noticed on the wholesale sugar market here yesterday. Sugar of both the grades climbed. The market undertone was firm.
Sugar S-30 firmed up to Rs 1,472-1,510 as against the previous close of Rs 1,470-1,490 a quintal on improved demand coupled with limited availability. Sugar M-30 improved to Rs 1,490-1,540 as against the previous level of Rs 1,485-1,540 a quintal on better offtake.
Sugar for the check-post deliveries were quoted low at Rs 1,450-1,465 a quintal for S-30 and at Rs 1,470-1,497 for M-30.
Non-ferrous metals: A steady trend was witnessed on the local non-ferrous market yesterday. Demand remained subdued.
In scraps, a quiet conditions was noticed. All metals ruled overall steady. Copper heavy scraps was quoted at Rs 129 a kg, copper utensils at Rs 116, brass utensils at Rs 98, brass sheetcuttings at Rs 102.50 and aluminium utensils at Rs 60 per kg respectively.
In the virgin section, a steady condition prevailed. All metals ruled overall steady. Copper wirebars was quoted at Rs 139, aluminium ingots at Rs 77, zinc slabs at Rs 81.50, lead ingots at Rs 41, tin slabs at Rs 296 and nickel cathodes at Rs 343 a kg respectively.
Bullion: A weak-to-downward trend was noticed on the local bullion market yesterday. Both the precious metals ruled weak. The market undertone was hesitant.
In yellow metal, standard gold and 22 carat declined further by Rs 35 each to Rs 4,365 and Rs 4,035 per 10 grams respectively on dull demand and weak overseas advices. Gold biscuit prices too dropped further by Rs 500 at Rs 51,000 per piece of 10 tolas on dull movement.
In white metal, silver.999 and .916 slumped by Rs 105 each to Rs 6,520 and Rs 6,420 a kg respectively on sluggish industrial demand coupled with brisk arrivals and weak overseas advices. Delhi advices indicated a weak trend.