Groundnut oil yesterday ruled overall steady on narrow movements. Demand was modest and upcountry arrivals remained subdued.
Other industrial oils ruled easy-to-steady. Imported palmolein too maintained on subdued demand.
In the futures section, Castorseeds June'97 contract opened higher and ruled steady towards closing.
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Groundnut oil held quiet at the previous level of Rs 369 per 10 kg on limited demand coupled with subdued arrivals, put at about 80/90 tonnes.
In other oils, cottonseed washed and refined qualities firmed up by Re 1 and Rs 2 to Rs 297 and Rs 302 per 10 kg respectively on better industrial demand and limited inflow.
Copra oil white slipped by Rs 5 to Rs 590 per 10 kg on reduced industrial demand and better arrivals. Imported palmolein ruled steady at Rs 295 per 10 kg on narrow movements and subdued demand. The majority of other oils ruled overall steady.
Castorseeds June'97 contract opened Rs 3.50 up at Rs 1,115.50 and firmed up to Rs 1,116 a quintal. It declined to Rs 1,110 before closing at Rs 1,115.50 on improved buying support.
All oilseeds ruled overall steady on narrow movements.
Sugar: A firm-to-upward trend was witnessed on the wholesale sugar market yesterday. Sugar small and medium moved up. The market undertone was weak.
Sugar S-30 moved up further to Rs 1,360/1,410 a quintal against the previous level of Rs 1,360/1,395 on improved demand and moderate arrivals. Sugar M-30 firmed up to Rs 1,401/1,475 from the previous level of 1,392/1,465 a quintal on better offtake. Sugar for the check-post deliveries quoted easy at Rs 1,360/1,385 a quintal for S-30 and at Rs 1,392/1,435 for M-30.
Non-ferrous metals: An overall steady trend was noticed on the local non-ferrous market. Industrial demand remained dull-to-subdued. The traded volume remained small. Prices of all metal remained unchanged.
In the virgin section, all metals ruled overall steady on narrow movements.
Copper wirebars was quoted at Rs 136.25, aluminium ingots Rs 74.50, zinc slabs Rs 79, lead ingots Rs 45.50, tin slabs Rs 315 and nickel cathodes at Rs 365 a kg respectively on subdued industrial demand and narrow movement.
In the scraps section, all metals ruled overall steady on marginal movements. Copper heavy scraps was quoted at Rs 123.25, copper utensils at Rs 111.25, brass utensils Rs 93.75, brass sheetcuttings Rs 97.50 and aluminium utensils at Rs 59.50 a kg respectively.
Bullion: A weak-to-downward trend continued on the local bullion market. Overseas advices too remained dull. Festive demand remained absent and was coupled with improved arrivals. The undertone was shaky.
In white metals, silver.999 and .916 declined further by Rs 50 each to Rs 6,730 and Rs 6,630 a kg respectively on reduced industrial demand and weak overseas advices. Delhi advices too was lacklustre. In yellow metals, standard gold and 22 carat eased by Rs 20 and Rs 15 to Rs 4,750 and Rs 4,395 per 10 grammes respectively on reduced offtake and moderate arrivals.
Overseas advices too showed a subdued-to-easy trend. Gold biscuit prices declined by Rs 300 at Rs 55,500 per piece of 10 tolas on dull movement.