Groundnut oil prices were steady, while palm oil improved at the oilseeds market here yesterday. In the futures section, castorseed September contract declined whereas December contract improved a little.
In the edible section, groundnut oil eased to close at Rs 375 from the previous close of Rs 376 due to poor demand and increased supply from producing centres. However, groundnut bold, held steady at Rs 1,900 on stray support.
Palm oil hardened by Rs 4 to close at Rs 262 on brisk local buying amidst restricted supply. In the industrial section, castor oil commercial quoted at Rs 270, castorseed Madras at Rs 1,200, linseed oil at Rs 295 and linseed bold at Rs 1300 showed hardly any change from the previous close due to scattered dealing.
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In the futures section, castorseed September contract, after a firm start at Rs 1,181 rose further to Rs 1,184. Later, on fresh offering, it declined to Rs 1,166 and closed at Rs 1,169.50, showing a fall of Rs 3.50 from the last close of Rs 1,173.
December contract, however, improved by Rs 5 and settled at Rs 1,180 from Rs 1,175.
Sugar: Prices of sugar improved at the wholesale sugar market due to increased local buying in view of the forthcoming festive season. However, supply was restricted, traders said.
The following were yesterdays rates per quintal (the previous rates are in brackets). Small sugar quality S-30 Rs 1,490/1,520 (Rs 1,490/1,500). Medium sugar quality M-30 Rs 1,515/1,550 (Rs 1,515/1,545).
Non-ferrous metals: Prices of copper, tin and nickel declined on lack of industrial support coupled with weak LME advices. Rest of the base metals held steady on scattered dealings. The following were yesterdays quotations per kilo. Copper scrap heavy Rs 122.50 (Rs 123), copper wire bar Rs 131.50 (Rs132), copper utensils Rs 111.50 (Rs 112), brass scrap Rs 96.50 (Rs 96.50), brass sheets cutting Rs 101.50 (Rs 101.50), aluminium utensils scrap Rs 60 (Rs 60), aluminium ingots Rs 78 (Rs 78), zinc Rs 84 (Rs 84), lead Rs 42 (Rs 42), tin Rs 290 (Rs 292) and nickel Rs 338 (Rs 341).
Bullion: Silver prices improved further and gold held steady on the bullion market here yesterday. Ready silver of .999 fineness opened at Rs 6,330 and rose further on increased industrial demand and closed at Rs 6,350 compared with the last close of Rs 6,325.
Raw silver of .916 fineness and tenderable silver also firmed up by a similar margin and finished at Rs 6,250 and Rs 6,355 from the previous close of Rs 6,225 and Rs 6,330 respectively.
Standard gold, after a firm start at Rs 4,500, declined on lack of follow-up support and closed at Rs 4,495, but showed no change from the previous mark. 22-carat gold was quoted steady at Rs 4,160, while ten-tola gold bar of .999 purity held unchanged from its last close of Rs 52,600.