Groundnut oil yesterday ruled steady-to-subdued on firm demand coupled with moderate arrivals from upcountry centres. Other industrial oils ruled easy to steady. Imported palmolein ruled firm on subdued arrivals.
In the futures section, the March 97 castorseed contract remained untraded while the June 97 contract opened higher. It ruled steady towards closing.
Groundnut oil maintained at Rs 342 per 10 kg on narrow movements. Demand remained modest. Arrivals were put at about 100-110 tonnes a day. In other oils, karanji improved further by Rs 5 at Rs 220 per 10 kg on improved demand coupled with limited arrivals. Sunflower oil expeller firmed up by Rs 2 to Rs 274 per 10 kg. Ricebran oil eased by Rs 2 at Rs 165 per 10 kg on subdued demand. Imported palmolein ruled steady at Rs 282 per 10 kg.
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In futures, the June97 contract opened higher by Rs 3 at Rs 1,187 and firmed up to Rs 1,188 a quintal. It declined and closed at Rs 1,187 on selling pressure. In oilseeds, castorseed Madras and Maharashtra qualities looked up by Rs 2 at Rs 1,099 and Rs 1,093 a quintal respectively on reduced industrial demand. Kardiseeds was up by Rs 25 at Rs 1,100 a quintal on improved industrial offtake. Other oilseeds ruled overall steady on narrow movements.
Sugar: A slightly firm-to-steady trend was noticed on the sugar market yesterday. Demand remained moderate against subdued inflow. The undertone remained weak. Sugar S-30 looked up to Rs 1,250-Rs 1,280 a quintal as against the previous level of Rs 1,235- Rs 1,280 on improved demand and limited arrivals. Sugar M-30 firmed up to Rs 1,275-Rs 1,350 from Rs 1,265- Rs 1,355 a quintal on improved offtake. The check-post deliveries were quoted easy at Rs 1,215-Rs 1,245 a quintal for S-30 and at Rs 1,260-Rs 1,305 for M-30.
Non-ferrous metals: A subdued-to-steady trend was noticed on the non-ferrous market yesterday. Industrial demand remained dull. In the virgin section, metals were quoted as under: copper wirebars Rs 128.50, aluminium ingots Rs 72.50, zinc slabs Rs 73, lead ingots Rs 45.50, tin slabs Rs 341 and nickel cathodes Rs 374 a kg respectively.
In the scrap section, all metals ruled overall firm on narrow movements. Cipper heavy scraps was quoted at Rs 116, copper utensils at Rs 105, brass utensils Rs 89.50, brass sheetcuttings Rs 91.50 and aluminium utensils Rs 58 a kg. respectively on subdued industrial demand coupled with easy arrivals.
Bullion: A firm to upward trend was noticed on the local bullion market yesterday. Both the precious metals ruled upward on improved demand coupled with firm overseas advices. The market sentiment remained weak. In white metals, silver .999 and .916 improved by Rs 15 to Rs 7,525 and Rs 7,425 a kg respectively on better overseas advices coupled with improved industrial offtake and limited arrivals.
In yellow metals, standard gold and 22 carat looked up by Rs 10 each to Rs 4,880 and Rs 4,515 per 10 grams respectively on better offtake coupled with firm overseas advices and nominal arrival. Demand remained better. Gold biscuit prices looked up by Rs 200 at Rs 57,100 per piece.