A firm trend was maintained in groundnut oil on improved demand coupled with restricted arrivals from the producing centres whereas other industrial oils ruled firm-to-upward at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Imported palmolein ruled firm.
In the futures section, castor seeds March '98 remained untraded while June contract opened higher and firmed up further towards closing. Groundnut oil firmed up by Re one at Rs 382 per 10 kg. Arrivals were put at around 75/ 80 tonne.
In other oils, linseed oil and need oil improved by Rs 5 each to Rs 345 and Rs 185 per 10 kg, respectively. Kardi oil and copra oil white advanced by Rs 10 and Rs 20 to Rs 435 and Rs 465 per 10 kg, respectively. Cottonseed oil washed and refined varieties firmed up further by Rs three and Rs two to Rs 345 and Rs 348 per 10 kg, respectively, while soyaoil refined and sunflower oil expeller looked up by Rs four each to Rs 354 and Rs.367 per 10 kg, respectively. Imported palmolein firmed up by Rs four at Rs 341 per 10 kg. In the futures section, June contract opened Rs four higher at Rs 1,250 a quintal and firmed up to Rs 1,256. It declined to Rs 1,250 before closing at Rs 1,253.50 a quintal. In oilseeds, kardiseeds improved by Rs 50 to Rs 1,550 per quintal on improved industrial offtake. Castorseeds Madras and Maharashtra quality firmed up by Rs 10 each to Rs 1,210 and Rs 1,204 per quintal, respectively.
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Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday.
In virgin metals, tin slabs and nickel cathodes eased by Rs two each to Rs 343 and Rs 312 a kg, respectively. Meanwhile, other metals ruled overall steady and were nominally quoted as under: copper wirebars Rs 116.50, aluminium ingots Rs 82, zinc slabs Rs 70 and lead ingots Rs 40 a kg, respectively. In the scraps section, all the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs 107, copper utensils Rs 94, brass utensils Rs 84.25, brass sheetcuttings Rs 88.50 and aluminium utensils Rs 62 a kg, respectively.
Bullion: A firm-to-upward trend was noticed in the local bullion market yesterday. Both the precious metals ruled upward.
In white metals, silver .999 and .916 firmed up by Rs 125 and Rs 130 to Rs 8,430 and Rs 8,330 per kg respectively. Industrial demand remained better. Delhi advices also indicated a modest trend.
In yellow metals, both standard gold and 22-carat gold looked up by Rs 10 each to Rs 3,950 and Rs 3,650 per 10 grammes, respectively. Overseas advices also indicated firm trend. Gold biscuit prices also edged up by Rs 100 at Rs 46,400 per piece of gold bar on modest movements.
Sugar: The sugar market at Turbhe, Navi Mumbai, remained officially closed on account of the Mathadi Kamgar Ekta Din.