Groundnut oil ruled overall steady on subdued arrivals from the producing centres coupled with lower demand whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled easy on subdued demand.
Groundnut oil was nominally quoted at Rs 360 per 10 kg subdued consumer demand. Arrivals from the producing centres remained at around 90 tonne a day.
In other oils, mowra oil and neem oil improved by Rs 5 each to Rs 260 and Rs 175 per 10 kg respectively. Ricebran oil looked up by Rs 3 to Rs 187 per 10 kg. Imported palmolein looked up by Re 1 to Rs 303 per 10 kg on better movements.
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In futures section, castorseeds March '98 contract opened steady at Rs 1175.50, declined to Rs 1172 before closing at Rs 1173 a quintal on speculative movements. June contract opened Re 1 up at Rs 1208 a quintal and ruled overall steady.
Sugar: A mixed trend was noticed in sugar prices on modest consumer offtake coupled with normal arrivals at Turbhe, Navi Mumbai yesterday. While medium grade sugar ruled firm, small grade ruled easy. The undertone of the market remained dull.
Sugar S-30 eased further to Rs 1430/1451 against the previous level of Rs 1432/1450 a quintal. Sugar M-30 grade looked up to Rs 1455/1520. Meanwhile, sugar for the check-post deliveries were quoted at Rs 1412/1425 a quintal for S-30 grade and Rs 1435/1450 for the M-30 grade.
Non-ferrous metals: A firm-to-steady trend continued in the local non-ferrous metals market yesterday. In scraps section, copper heavy scraps, copper utensils, brass utensils and brass sheetcuttings looked up further by 25 paise each to Rs 106.25, Rs 94.75, Rs 83.75 and Rs 88.50 a kg respectively. Meanwhile, aluminium utensils ruled steady at Rs 62.50 a kg on narrow movements.
In virgin metals, copper wirebar firmed up further by 25 paise at Rs 116.25 a kg.
Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : aluminium ingots Rs 82, zinc slabs Rs 71.50, lead ingots Rs 40, tin slabs Rs 335 and nickel cathodes Rs 327 a kg respectively.
Bullion: An upward-to-firm trend was witnessed in the local bullion market yesterday. Both the precious metals advanced on paucity of ready stock. However, the undertone of the market remained weak.
In white metals, silver .999 and .916 improved further by Rs 25 each to Rs 8,435 and Rs 8,335 a kg respectively.
In yellow metals, both standard gold and 22 carat gold firmed up by Rs 15 each to Rs 4,025 and Rs 3,725 per 10 grammes . Gold biscuit prices also looked up by Rs 200 at Rs 47,100 per piece.