Groundnut oil continued to rule steady at Rs 342 per 10 kg yesterday at the oils and oilseeds market in Turbhe, Navi Mumbai on subdued demand and moderate arrivals.
The overall trend in industrial oils and imported palmolein remained easy on better arrivals. In futures section, March 1997 contract remained untraded yesterday while June 1997 contract opened higher but eased towards closing. Demand for groundnut oil remained modest and the arrivals are put about 100/110 tonnes a day. In other oils, castor oil washed and refined improved by Rs 2 each to Rs 275 and Rs 282 per 10 kg respectively. Castor oil commercial and BSS firmed up by Rs 2 each to Rs 251 and Rs 263 per 10 kg respectively on better industrial offtake. Ricebran oil, too, recovered by Rs 2 at Rs 167 per 10 kg on better demand. Imported palmolein eased by Re 1 at Rs 281 per 10 kg on subdued demand. Majority of other oils ruled overall steady on narrow movements.
In futres, castorseeds June 1997 contract opened higher by Rs 4 at Rs 1,191 and firmed up to Rs 1,192.50 a quintal. It declined and closed at Rs 1,190.50 a quintal mainly due to selling pressure.
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Castorseeds Madras and Maharashtra qualities looked up further by Rs 10 at Rs 1,109 and Rs 1,103 a quintal respectively on better industrial demand.
Sugar: An easy to subdued trend was noticed at the wholesale sugar market. The undertone of the market remained weak. Sugar S-30 grade eased to Rs 1,240-1,278 a quintal as against of the previous level of Rs 1,250-1,280 a quintal on improved demand and limited arrivals. While sugar M-30 grade weakened to Rs 1,270-1,348 from the previous level of Rs 1,275-1,350 a quintal on improved offtake. Sugar for the check post deliveries were quoted easy at Rs 1,220-1,240 a quintal for S-30 grade and Rs 1,245-1,310 for M-30
Non-ferrous Metals: An overall firm to upward trend was noticed in the local non-ferrous market yesterday. All the metals in both the sections improved on better offtake. In virgin section, nickel cathodes and tin slabs by Rs 2 each to Rs 343 and Rs 376 per kg respectively on good industrial demand and firm overseas advices. The arrivals were restricted. Copper wirebar firmed up by Re 1 at Rs 1,29.50 a kg on improved industrial demand. Aluminium ingots, zinc slabs and lead ingots hardened by 75 paise, 50 paise and 25 paise to Rs 73.25, Rs 73.50 and Rs 45.75 a kg respectively on improved offtake. In scraps section, copper heavy scraps improved by Re 1 at Rs 117 a kg on improved industrial offtake and limited arrivals. Overseas advices also remained firm. Copper utensils, brass utensils, brass sheetcuttings and aluminium utensils firmed up by 50 paise each to Rs 105.50, Rs 90.00, Rs 92.00 and Rs 58.50 a kg respectively on better industrial demand.
Bullion: A firm to upward trend continued in the local bullion market.. Both the precious metals ruled upward on better demand and firm overseas advices. The market sentiment remained firm.
In white metals, silver .999 and .916 improved by Rs 80 to Rs 7,605 and Rs 7505 a kg respectively on firm overseas advices and improved industrial offtake. The arrivals were limited. Delhi advices, too, witnessed a firm trend. In yellow metals, standard gold and 22 carat gold looked up further by Rs 10 each to Rs 4,890 and Rs 4,525 per 10 gm respectively on better offtake and firm overseas advices.