A weak trend continued in groundnut oil on reduced demand coupled with brisk arrivals, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein also ruled easy on subdued demand against modest arrivals.
Groundnut oil receded further by Rs 1.50 at Rs 349 per 10 kg. on reduced demand and brisk arrivals from the producing centres. Arrivals were put at around 120 tonnes a day.
In other oils, kardi oil and coconut oil white declined by Rs 4 and Rs 5 to Rs 348 and Rs 545 per 10 kg.respectively on reduced industrial demand. A majority of other oils ruled overall steady on narrow movements.
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In the futures section, December contract opened 50 paise lower at Rs 1164.50 and firmed up to Rs 1167 a quintal. It declined to Rs 1162.50 before closing at Rs 1165 a quintal. Castor seeds Madras and Maharashtra qualities declined further by Rs 4 each to Rs 1186 and Rs 1180 per quintal respectively on reduced industrial demand.
Sugar: An easy trend continued in the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both grades ruled weak. The undertone of the market was a bit shaky.
S-30 grade eased further to Rs 1501/1520 as against the previous level of Rs 1505/1527 a quintal on sluggish consumer demand coupled with brisk arrivals, while M-30 softened further to Rs 1520/1560 as against of the previous level of Rs 1528/1559 a quintal on dull offtake
Non-ferrous Metals :Firm conditions continued to be witnessed in the local non-ferrous market yesterday. The demand remained better against modest arrivals. The undertone was hesitant.
Copper heavy scraps, copper utensils, brass utensils and brass sheetcuttings looked up further by 25 paise each at Rs 120, Rs 109.75, Rs 96.25 and Rs 101.50 a kg. respectively on improved industrial demand.
Calm conditions prevailedin the virgin section. All the metals ruled overall steady and were nominally quoted as under : copper wirebars Rs 128.50, aluminium ingots Rs 78, zinc slabs Rs 87, lead ingots Rs 42, tin slabs Rs 283 and nickel cathodes Rs 321 a kg. respectively.
Bullion : An easy-to-downward trend was noticed in the local bullion market yesterday. Both the precious metals ruled weak. The undertone was hesistant.
Standard gold and 22 carat eased by Rs 10 each to Rs 4465 and Rs 4,130 per 10 grammes respectively on reduced demand and modest arrivals. London advices also showed a weak trend. Gold biscuits prices also slided by Rs 100 at Rs 52,400 per piece of 10 tolas on subdued movements. Silver.999 and .916 softened by Rs 5 each to Rs 6885 and Rs 6785 a kg. respectively on sluggish industrial demand.
Delhi advices indicated weak trend.