Groundnut oil continued to rule firm on restricted arrivals from producing centres coupled with better demand, whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled steady on subdued demand.
Groundnut oil firmed up further by Re 1 at Rs 366 per 10 kg on better consumer demand.
In other oils, castor oil commerical and BSS qualities looked up by Rs 2 each to Rs 274 and Rs 286 per 10 kg. Soya oil refined receded by Rs 2 to Rs 314 per 10 kg on sluggish industrial demand. Copra oil white looked up by Rs 5 to Rs 530 per 10 kg. Imported palmolein ruled steady at Rs 305 per 10 kg. Meanwhile, most of the other oils ruled overall steady.
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In futures section, castorseeds March98 contract opened Rs 1.50 higher at Rs 1,176 and firmed up to Rs 1,178 a quintal. It declined to Rs 1174.50 before closing at Rs 1176 a quintal.
In oilseeds, castorseeds - Madras bold and Maharashtra bold - improved by Rs 9 each to Rs 1,219 and Rs 1,213 a quintal. Groundnuts - Karad bold and Saurashtra bold - moved up by Rs 10 each to Rs 1,920 and Rs 1,940 per quintal. Nigerseeds Madras quality eased by Rs 10 at Rs 1,450 a quintal.
Sugar: An easy-to-subdued trend continued in sugar prices on subdued consumer offtake and limited arrivals. Both the grades of sugar ruled subdued.
Sugar S-30 grade eased to Rs 1,441/1,470 against the previous level of Rs 1,438/1,475 a quintal.
Sugar M-30 grade ruled weak at Rs 1,458/1,520 as against the previous level of Rs 1,461/1,520 a quintal. Meanwhile, sugar for the check post deliveries were quoted low at Rs 1,425/1,440 a quintal for S-30 grade and Rs 1,440/1,460 for the M-30 grade.
Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday.
In virgin metals, nickel cathodes declined further by Rs 2 at Rs 327 a kg on sluggish industrial demand coupled with easy availability of ready stocks, while zinc slabs eased by 50 paise to Rs 71.50 a kg. All other metals ruled steady and were quoted as under: copper wirebar Rs 115.50, aluminium ingots Rs 82, lead ingots Rs 40 and tin slabs Rs 335 a kg.
In scraps section, all metals ruled steady and were nominally quoted as under: copper heavy scraps Rs 105, copper utensils Rs 94, brass utensils Rs 83.25, brass sheetcutings Rs 88 and aluminium utensils Rs 62.50 a kg.
Bullion: An upward trend was witnessed in the local bullion market yesterday. The undertone remained weak.
Silver .999 and .916 looked up by Rs 30 each to Rs 8,205 and Rs 8,105 a kg. Arrivals remained modest. Delhi advices also indicated a firm trend.
Both standard gold and 22 carat gold firmed up by Rs 15 each to Rs 3,975 and Rs 3,675 per 10 gms. Gold bisucit prices also edged up by Rs 200 at Rs 46,500 per piece of gold bar.