Groundnut oil continued to decline following lower offtake and brisk arrivals from the producing centres yesterday. Industrial oils ruled easy-to-subdued at the oilseeds market in Turbhe, Navi Mumbai.
Imported palmolein, too, ruled weak on dull demand. In the futures section, Castorseeds June 97 contract opened lower and eased further towards closing. September contract resumed yesterday but remained untraded.
Groundnut oil declined further by Rs 3 at Rs 358 per 10 kg on dull demand coupled with improved arrivals which were put at more than 100 tonnes a day.
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In other oils, castor oil washed and refined qualities eased by Rs 5 each to Rs 290 and Rs 295 per 10 kg, respectively on reduced industrial demand and better arrivals. Sesame oil and Karanji oil declined by Rs 5 each to Rs 315 and Rs 182 per 10 kg, respectively on reduced industrial demand coupled with better inflows. Imported palmolein declined further by Rs 3 at Rs 285 per 10 kg on easy demand.
In futures, castorseeds June 97 contract opened Rs 5 lower at Rs 1128 and remained at the same level. It declined to Rs 1122 before closing at Rs 1122.50 a quintal on shortcoverings.
In oilseeds, nigerseeds Madras improved further by Rs 50 at Rs 1500 per quintal on improved industrial demand coupled with restricted availability. Castorseeds Madras and Maharashtra qualities declined further by Rs 2 each to Rs 1097 and Rs 1091 a quintal, respectively on reduced demand and better inflows.
Sugar: A firm trend was maintained at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Sugar of both the grades, small and medium showed an upward trend. Though, the undertone of the market was not firm.
Sugar S-30 grade firmed up to Rs 1390/1440 as against the previous level of Rs 1375/1430 a quintal on better demand and restricted arrivals. While sugar M-30 grade improved to Rs 1440/1500 from the previous level of 1435/1505 a quintal on improved offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1375/1400 a quintal for S-30 grade and Rs 1425/1475 for the M-30 grade.
Non-ferrous metals: An easy trend continued in the local non-ferrous market yesterday. Industrial demand remained dull and the trade volume small.
In the virgin section, copper wirebar and zinc slabs eased by 50 paise each to 134.50 and Rs 77.50 a kg, respectively on reduced industrial demand and improved arrivals. Meanwhile, all the other metals ruled overall steady on narrow movements and were nominally quoted as under: aluminium ingots Rs 74.50, lead ingots Rs 42, tin slabs Rs 312 and nickel cathodes Rs 361 a kg, respectively on narrow movements.
In scraps section, copper heavy scraps and copper utensils declined by 50 paise each to Rs 121.50 and Rs 109 a kg, respectively on dull industrial demand coupled with improved inflows.
Brass utensils and brass sheetcuttings eased by 25 paise to Rs 92.50 and Rs 96.50 a kg respectively on low offtake. Meanwhile, aluminium utensils ruled overall steady at Rs 59 a kg on narrow movements.
Bullion: An easy to steady trend was seen in the local bullion market yesterday. Both the precious metals eased on reduced consumer as well industrial demand coupled with weak overseas advices.
In white metals, silver.999 and .916 declined by Rs 30 each to Rs 6850 and Rs 6750 a kg respectively on reduced industrial demand coupled with better arrivals. In yellow metals, standard gold and 22 carat gold eased by Rs 5 each to Rs 4760 and Rs 4405 per 10 grammes respectively on improved inflows with reduced offtake. Overseas advices also showed a weak trend. Gold biscuits prices ruled overall steady at Rs 55,700 per piece of 10 tolas.