An easy trend was witnessed in groundnut oil on the wholesale oils and oilseeds market here yesterday. Arrivals remained moderate. Other industrial oils ruled better-to-steady. Imported palmolein too ruled easy.
In the futures section, castorseeds March'98 contract opened steady but eased towards closing. Groundnut oil eased by Rs 2 at Rs 360 per 10 kg.
Cottonseed oil washed and mowra oil looked up by Rs 3 and Rs 5 to Rs 311 and Rs 245 per 10 kg respectively. Karanji oil and copra oil white declined by Rs 2 and Rs 10 to Rs 168 and Rs 570 per 10 kg respectively. Imported palmolein eased by Re 1 at Rs 301 per 10 kg. The majority of other oils ruled overall steady. In the futures section, castorseeds March'98 contract opened steady at the previous level of Rs 1,165.50 and firmed up to Rs 1,167 a quintal. It declined and closed at Rs 1,164.
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In oilseeds, kardi seeds eased by Rs 25 at Rs 1,275 a quintal. All other oilseeds ruled overall steady.
Sugar: A mixed trend prevailed in sugar. Small grade sugar firmed up while medium grade ruled subdued. The market undertone remained dull.
Sugar S-30 looked up to Rs 1,480/1,500 from the previous level of Rs 1,465/1,500 a quintal. Sugar M-30 was quoted at Rs 1,500/1,530 against the previous level of Rs 1,490/1,540 a quintal. Sugar for the checkpost deliveries were quoted low at Rs 1,465/1,485 a quintal for S-30 grade and at Rs 1,485/1,510 for M-30.
Non-ferrous metals: A firm-to-steady trend was noticed on the local non-ferrous metals market. Demand remained modest. The market undertone remained hesitant. In scraps, copper heavy improved by 50 paise while coppper utensils, brass utensils and brass sheetcuttings looked up by 25 paise each to Rs 106.50, Rs 94.75, Rs 82.75 and Rs 88.50 a kg respectively. Aluminium utensils held overall steady and were nominally quoted at Rs 62.50 a kg. In virgin metals, nickel cathodes declined by Rs 2 to Rs 325 a kg. Copper wirebar looked up by 50 paise at Rs 116.50 a kg.
All the other metals ruled quiet. Aluminium ingots was quoted at Rs 82 a kg, zinc slabs at Rs 72.50, lead ingots Rs 39.50 and tin slabs at Rs 328 a kg.
Bullion: A divergent trend continued on the local bullion market. Gold eased further while silver continued to firm up. The market undertone remained weak. In yellow metals, both standard gold and .22 carat declined by Rs 15 each to Rs 3,995 and Rs 3,695 per 10 gramms.
Gold biscuit prices too weakened by Rs 400 at Rs 46,700 per piece.
In white metals, silver .999 and .916 advanced further by Rs 105 each to Rs 8,330 and Rs 8,230 a kg.
Delhi advices too indicated a better trend.