Groundnut oil witnessed a firm-to-upward trend on better demand coupled with restricted arrivals from the producing centres at the wholesale oils and oilseeds market here yesterday. Other industrial oils ruled firm-to-steady. Imported palmolein ruled firm.
In futures section, castor seeds March '98 remained untraded while the June contract opened higher to ease towards closing.
Groundnut oil firmed up by Rs 3 at Rs 379 per 10 kg. Arrivals were put at around 80 tonnes a day. Linseed and mowra oils improved Rs 5 each to Rs 335 and Rs 260 per 10 kg respectively. Coconut oil white dipped by Rs 15 at Rs 460 per 10 kg. Imported palmolein firmed up by Rs 4 at Rs 330 per 10 kg.
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In futures, the June contract declined to Rs 1,235 before closing to Rs 1,236.50 a quintal. In oilseeds, groundnuts - karad bold and Saurashtra qualities -- edged up Rs 10 each to Rs 1,930 and Rs 1,950 per quintal respectively. Castorseeds Madras and Maharashtra qualities firmed up Rs 4 each to Rs 1190 and Rs 1184 per quintal.
Sugar: An easy-to-weak trend was seen in sugar prices on dull consumer offtake and modest arrivals. Sugar S-30 declined to Rs 1410/1445 a quintal as against the previous Rs 1415/1461 level. The M-30 grade eased further to Rs 1440/1500 as against the previous level of Rs 1440/1500 a quintal. Sugar for the check post deliveries were quoted lower at Rs 1385/1400 a quintal for S-30 and Rs 1420/1455 for the M-30 grade.
Non-ferrous metals: Copper prices firmed up in the local non-ferrous metals market. Hindustan Copper (HCL) hiked its selling prices of copper bars, cathodes and wire rods by Rs 5,000, Rs 6000 and Rs 4,000 a tonne respectively.
In scraps, copper heavy scraps shot up by Rs 2 at Rs 108 a kg. Copper and brass utensils improved by 75 paise and Re 1 at Rs 94.50 and Rs 84.25 a kg. Brass sheetcuttings edged up Rs 1.25 at Rs 88.50 a kg. Aluminium utensils ruled overall steady at Rs 62.00 a kg. In virgin metals, copper wirebars soared by Rs 2 at Rs 117.50 a kg, while, all other metals ruled steady and were quoted as: aluminium ingots Rs 82, zinc slabs Rs 70, lead ingots Rs 40, tin slabs Rs 345 and nickel cathodes Rs 310 a kg.
Bullion: A mixed trend was noticed in the local bullion market. Silver ruled weak, while gold ruled overall steady.
In white metals, silver .999 and .916 declined by Rs 40 and Rs 50 to Rs 8575 and Rs 8,465 a kg respectively. Delhi advices indicated a modest trend.
In yellow metals, both standard and 22 carat gold ruled steady and were nominally quoted. Standard gold quoted Rs 3985 while the latter was dealt for Rs 3685 per 10 grams. Overseas advices indicated steady trend. Gold biscuit prices held overall steady at the previous level of Rs 46,800 per piece of gold bar.