Groundnut oil ruled overall steady at improved level yesterday despite the dull demand prevailing at the oils and oilseeds market at Turbhe, Navi Mumbai. Other industrial oils ruled mixed while imported palmolein ruled steady on subdued demand.
Groundnut oil remained steady at the previous level of Rs 366 per 10 kg though despite dull demand and modest arrivals. Arrivals were put about 90-100 tonnes a day.
In other oils, linseed oil and mowra oil improved by Rs 4 and Rs 5 to Rs 300 and Rs 290 per 10 kg on better industrial demand and limited inflows. Copra oil white suffered a setback by Rs 5 and was traded at Rs 595 per 10 kg on reduced industrial demand and improved arrivals. Sesame oil and karanji oil declined by Rs 5 each to Rs 325 and Rs 185 per 10 kg on reduced industrial interest while imported palmolein ruled steady at Rs 293 per 10 kg.
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In futures section, Castorseeds June 1997 contract opened Rs 3 higher at Rs 1,118 and firmed up to Rs 1,121 a quintal. It declined to Rs 1,116 before closing at Rs 1,120 a quintal on improved buying support.
In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1,114 and Rs 1,108 a quintal respectively on improved offtake. All other oilseeds ruled overall steady on narrow movements.
Sugar: A firm to upward trend was present at the wholesale sugar market at Turbhe, Navi Mumbai yesterday, with both medium and small grade sugar showing an improvement.
Sugar S-30 grade moved up further to Rs 1,390-1,425 a quintal against the previous level of Rs 1,390-1,420 a quintal on improved demand and reduced arrivals. Sugar M-30 grade improved to Rs 1,440-1,505 from the previous level of Rs 1,420-1,487 a quintal on better offtake. Sugar for the check post deliveries were quoted easy at Rs 1,380-1,400 a quintal for S-30 grade and Rs 1,325-1,380 for the M-30 grade.
Non-ferrous metals: An easy to steady trend was noticed in the local non-ferrous market yesterday. Industrial demand remained dull to subdued with thin trade volumes. In virgin section, nickel cathodes eased by Re 1 to Rs 364 a kg on dull industrial demand and better inflows. Copper wire bar was quoted at Rs 136.50, aluminium ingots at Rs 74.5, zinc slabs Rs 79; lead ingots Rs 45.50; and tin slabs a kg respectively on subdued industrial demand and narrow movements.
In scraps section, all the metals ruled overall steady on narrow movements and were nominally quoted as under: copper heavy scraps Rs 123; copper utensils Rs 111; brass utensils Rs 93.50 brass sheetcuttings Rs 97.50 and aluminium utensils Rs 59 a kg.
Bullion: A mixed trend was noticed in the local bullion market yesterday. Silver firmed up further while the yellow metal ruled overall steady on narrow movement. In white metals, silver .999 and .916 shot up by Rs 90 each to Rs 6,825 and Rs 6,725 a kg respectively on improved industrial demand coupled with reduced arrivals. The overseas advices also showed a firm trend.
In yellow metals, standard gold and 22 carat gold ruled overall steady at the previous levels of Rs 4,750 and Rs 4,395 per 10 gms respectively on subdued offtake with moderate arrivals. Overseas advices, too, showed a steady trend. Gold biscuits prices held steady at Rs 55,500 per piece of 10 toals on dull movements.