Groundnut oil recovered at lower level on better demand coupled with modest arrivals from the upcountry centres yesterday whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. In future section, both the contracts remained closed yesterday.
Groundnut oil recovered by Rs 3 at Rs 344 per 10 kg. on better demand coupled with reduced arrivals. Arrivals are put about 90/100 tonnes a day.
In other oils, linseed oil and sesame oil improved by Rs 5 and Rs 10 to Rs 300 and Rs 310 per 10 kg. respectively on improved demand. Coconut oil white improved by Rs 10 at Rs 278 per 10 kg on restricted supplies coupled with better industrial demand. Imported palmolein eased by Re 1 at 282 per 10 kg. on subdued demand. Meanwhile, majority of other oils ruled overall steady on narrow movements.
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In oilseeds, castorseeds Chennai and Maharashtra qualities looked up by Rs 5 each to Rs 1090 and Rs 1084 per quintal respectively on dull demand and better inflows. Meanwhile, all the other oilseeds ruled overall steady on narrow movements.
Sugar: Sugar prices eased further at higher level at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Sugar of both the grades declined on the weak demand. The demand remained sluggish against better inflows. The undertone of the market remained weak.
Sugar S-30 grade declined to Rs 1252/1280 a quintal from the previous level of Rs 1265/1296 on slack demand and better arrivals. While sugar M-30 grade dipped to Rs 1290/1380 from the previous level of Rs 1300/1392 a quintal on better offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1240/1260 a quintal for S-30 grade and Rs 1270/1340 for the M-30 grade.
Non-ferrous Metals: An overall steady trend prevailed in the local non-ferrous market yesterday. Both the metals i.e scraps and virgin ruled subdued to steady on narrow movements. Industrial demand remained dull. and trade volume remained small.
In scraps section, all the metals ruled overall steady on narrow movements and were nominally quoted at copper heavy scraps Rs 118, copper utensils Rs 106, brass utensils Rs 89, brass sheetcuttins Rs 91, and aluminium utensils Rs 58 a kg. respectively on dull industrial demand coupled with subdued arrivals. In virgin section, copper wirebars, aluminium ingots, zinc slabs, lead ingots, tin slabs and nickel cathodes ruled overall steady and were nominally quoted at Rs 130, Rs 72.50, Rs 68.50, Rs 45.50, Rs 342 and Rs.372 a kg respectively.
Bullion: A divergent trend was noticed in the local bullion market yesterday. In the precious metals, silver continued to move up while gold slided. The market sentiment remained weak.
In white metals, silver .999 and .916 shot up further by Rs 50 each to Rs 7340 and Rs 7240 a kg respectively on strong overseas advices coupled with better industrial offtake as against moderate arrivals.
Delhi advices witnessed a firm trend. In yellow metals, standard gold and 22 carat gold declined by Rs 20 each to Rs 4760 and Rs 4400 per 10 grammes respectively on reduced consumer demand coupled with weak overseas advices and modest arrivals from upcountry centres.