Castorseed September futures contract opened marginally higher and ruled steady at the same level throughout the session. December contract opened lower but flared up towards closing.
Groundnut oil improved by Rs 3 to Rs 435 per 10 kg on better demand and steady arrivals, around 80-90 truckloads, from the producing centres.
In other oils, mowra oil lost Rs 5 per 10 kg to Rs 275 on ready stock and reduced industrial demand. Sesame oil looked up by Rs 2 to Rs 340 per 10 kg on better offtake. Cottonseed oil (washed & refined) declined by Rs 6 and Rs 3 to Rs 312 and Rs 320 per 10 kg respectively on reduced offtake.
Imported palmolein declined by Rs 2 to Rs 279 per 10 kg on imports and subdued offtake. Meanwhile, majority of other oils ruled overall steady on narrow movements.
In futures castorseed September contract opened Rs 2 higher at Rs 1,098 per quintal and ruled at the same level. December contract opened Rs 3 lower at Rs 1,137 per quintal and moved up to Rs 1,149.50. It closed at Rs 1,149.50. In oilseeds, castorseeds Madras and Kanpur eased by Rs 2 per quintal each to Rs 1,080 and Rs 1,074 respectively. Other oilseeds were overall steady on narrow movements.
A weak trend prevailed at the wholesale sugar market at Turbhe and Vashi, Navi Mumbai yesterday. The demand remained low amid brisk supplies. Sugar S-30 grade declined from the previous Rs 1,355/1,384 level to Rs 1,350/1,380 per quintal, while M-30 grade eased from Rs 1,385/1,438 to Rs 1,380/1,438 on dull demand. Sugar prices checkpost delivery were also quoted lower at Rs 1,315/1,340 a quintal for small grade and Rs 1,355/1,385 for medium grade. The market undertone was weak.
A downward to easy trend was noticed in the local bullion market yesterday. Precious metals dipped on dull demand. Silver.999 declined by from the previous level of Rs 7,270 to Rs 7225 per kg on improved supplies and dull industrial demand. Silver.916 eased from Rs 7,165 to Rs 7,125 a kg. Delhi advices indicated a weak trend. Standard gold dipped from Rs 5,170 to Rs 5,160 per 10 grams on easy demand and 22 carat gold eased from Rs 4,780 to Rs 4,775 per 10 grams on subdued demand.
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Gold biscuit prices also softened by Rs 100 to Rs 60,400 per piece of 10 tolas on reduced demand.
The non-ferrous metals market yesterday witnessed slack industrial demand at higher level. The trade volume remained very small.
In virgin section, nickel cathodes shed Rs 3 to fix at Rs 393 per kg on increased imports and weak demand. Copper wirebars eased by Re 1 to Rs 120 per kg on reduced industrial demand as against improved arrivals.
Other metals were overall steady on narrow movements. Prices of aluminium ingots fixed at Rs 74.50, zinc slabs at Rs 63.25, lead ingots at Rs 49.50, tin slabs at Rs 360 per kg respectively.
In scraps section, copper heavy scraps lost Re 1 at Rs 15, whereas copper utensils, brass utensils and brass sheetcuttings eased by 50 paise each to Rs 103, brass utensils Rs 86 and brass sheetcuttings Rs 92 per kg respectively on dull industrial offtake. Meanwhile, aluminium utensils ruled overall steady at Rs 58.0 per kg on easy demand.