A slightly firm trend was witnessed in groundnut oil whereas other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein also showed an easy trend on subdued demand. In futures section, castorseeds June contract remained untraded while September contract opened steady but improved towards closing.
Groundnut oil firmed up further by Re.1 at Rs.360 per 10 kg. on better demand coupled with slightly reduced arrivals on account of the recent untimely rain in Saurashtra-Gujarat. Arrivals were put at around 70/80 tonnes a day.
In other oils, soya oil refined declined by Rs.6 to Rs.286 per 10 kg. on reduced industrial offtake followed by brisk arrivals. Copra oil white improved by Rs.10 to Rs.515 per 10 kg. on improved industrial demand and limited arrivals Imported palmolein eased further by a rupee at Rs 274 per 10 kg on subdued demand. Meanwhile, majority of other oils ruled steady.
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In futures section, castorseeds September contract opened steady at Rs.1138.50 and firmed up to Rs. 1145 a quintal. It declined to Rs.1138.50 before closing at Rs.1144.50 a quintal on speculative shortcoverings.
All other oilseeds ruled overall steady on narrow movements.
Sugar: An upward trend continued at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. The prices of both the grades continued to firm up on better buying interest. However, the market undertone was not firm.
Sugar S-30 grade firmed to Rs.1430/1460 as against the previous level of Rs.1425/1462 a quintal on better demand and moderate arrivals. Sugar M-30 firmed up to Rs. 1470/1500 as against the previous level of Rs.1465/1495 a quintal on improved offtake. For the check post deliveries, they were quoted easy at Rs.1400/1420 a quintal for S-30 grade and Rs.1436/1465 for the M-30 grade.
Non-ferrous Metals : An easy-to-steady trend was noticed in the local non-ferrous market yesterday. Industrial demand remained moderate as against subdued arrivals.
In virgin section, zinc slabs eased by 50 paise at Rs. 80.50 a kg on reduced industrial demand coupled with better arrivals. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: copper wirebars Rs. 137, aluminium ingots Rs.77, lead ingots Rs.41, tin slabs Rs.312 and nickel cathodes Rs.364 a kg. respectively.
In scraps section, a steady trend was noticed in metal scraps prices. All the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs.126, copper utensils Rs. 114.25, brass utensils Rs.96.50, brass sheetcuttings Rs.101.50 and aluminium utensils Rs.60 a kg. respectively.
Bullion : A divergent trend was witnessed in the local bullion market yesterday. Silver ruled steady while gold declined. The undertone of the market was weak.
In yellow metals, standard gold and 22 carat gold declined further by Rs.35 each to Rs.4705 and Rs. 4350 per 10 grammes respectively on brisk arrivals coupled with reduced demand followed by dull overseas advices. Gold biscuits prices also weakened further by Rs.300 at Rs.55,100 per piece of 10 tolas.
In white metals, silver.999 and .916 firmed up by Rs.10 each to Rs.6840 and Rs.6740 per kg. respectively.