Groundnut oil ruled steady on subdued arrivals coupled with modest demand, while industrial oils indicated steady-to-subdued trend at the wholesale oils and oilseeds market, Turbhe, yesterday.
Imported palmolein ruled easy on moderate demand. In future section, the March 1997 contract opened slightly up but eased towards closing.
Groundnut oil ruled static at the same previous level of Rs 349 per 10 kg on moderate demand. Arrivals are put about 100/120 tonnes a day. In other oils, linseed oil declined by Rs 3 at Rs.312 per 10 kg on reduced demand and moderate arrivals.
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Cottonseed oil washed and refined eased by Re 1 each at Rs 284 and Rs 289 per 10 kg respectively on dull offtake.
Sunflower oil expeller slipped by Rs 2 at Rs 303 per 10 kg on reduced demand. Rice bran oil and karanji oil went up by Rs 3 each to Rs 165 and Rs 188 per 10 kg respectively on increased demand coupled with modest inflows from the producing centres. Imported palmolein eased by Rs 2 at Rs 287 per 10 kg on reduced demand. Meanwhile, majority of other oils ruled overall steady. In future section, the March 1997 contract opened 50 paise higher at Rs 1,173and moved up to Rs 1174.50 per quintal. It closed at Rs 1,166 on speculative sellings. Overall, all the oilseeds ruled overall on narrow movements yesterday.
An easy-to-steady trend continued at the wholesale sugar market. Sugar small grade quoted was at Rs 1250/1291 as against the previous level of Rs 1265/1295 a quintal, while medium grade remained overall steady at Rs 1300/1375 a quintal on slim movements. Sugar prices for the check-post were quoted lower at Rs 1235/1250 a quintal for S-30 grade and Rs 1255/1335 a quintal for M-30 grade.
Virgin metals showed a firm-to-upward trend, while scrap metals witnessed a steady trend in the local non-ferrous market yesterday. In virgin section, nickel cathodes and tin slabs improved by Re 1 each to Rs 369 and Rs 346 a kg respectively on better demand and reduced arrivals. Lead ingots and zinc slabs firmed up by 50 paise each to Rs 44.50 and Rs 65.50 a kg respectively on better offtake.
Meanwhile, other metals like copper wirebars and aluminium ingots ruled overall steady on narrow movements, and were nominally quoted at Rs 125.50 and 72.00 a kg respectively on moderate offtake. Copper heavy scraps were quoted at Rs 116.50 a kg, copper utensils at Rs 103.75, brass utensils at Rs 86.75, brass sheetcuttings Rs 90.25 and aluminium utensils Rs 58 a kg.
A downward trend was witnessed in the local bullion market yesterday. Both the precious metals slid on reduced demand, coupled with brisk arrivals and weak overseas advices. Silver.999 and .916 declined by Rs 90 each to Rs 6,710 and Rs 6,610 per kg on improved arrivals from the upcountry centres and sluggish demand.
Standard gold and 22 carat gold eased by Rs 10 each to Rs 4,860 and Rs 4,495 per 10 grams respectively. Gold biscuit prices also slipped to Rs 56,800 from Rs 56,900 per piece of 10 tolas.