Groundnut oil ruled easy on subdued demand whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market at Turbhe, Navi Mumbai yesterday. The arrivals from the upcountry centres were moderate.
Imported palmolein ruled easy on modest arrivals. In futures section, castorseeds March 1997 contract remained untraded yesterday while June 1997 contract opened lower but improved towards closing.
Groundnut oil eased by Re 1 to Rs 341 per 10 kg on subdued offtake coupled with modest arrivals. Arrivals were put about 100 tonnes a day.
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In other oils, kardi oil eased by Rs 2 to Rs 340 per 10 kg on reduced industrial demand and improved inflow.
Copra oil white declined by Rs 5 to Rs 675 per 10 kg on reduced industrial demand and modest arrivals.
Soya oil (refined) and sunflower oil (expeller) eased further by Rs 2 to Rs 277 and Rs 263 per 10 kg respectively on reduced demand.
Imported palmolein eased by Re 1 to Rs 277 per 10 kg on subdued offtake. Majority of other oils ruled overall steady on narrow movements.
In futures, castorseeds June 1997 contract opened Rs 2.50 lower at Rs 1,178 and firmed up to Rs 1,187 per quintal.
It declined to Rs 1,177.50 before closing at Rs 1,186 a quintal on speculative short-coverings.
In oilseeds, kardi seeds eased further by Rs 25 to Rs 1,075 per quintal on dull industrial offtake. Castorseeds Madras and Maharashtra qualities firmed up by Rs 5 each to Rs 1,109 and Rs 1,103 a quintal respectively on better demand.
Meanwhile, all the other oilseeds ruled overall steady on narrow movements.
Sugar: An easy to subdued trend witnessed in sugar prices at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. The demand remained dull against subdued inflow. The undertone of the market was hesitant.
Sugar S-30 grade eased to Rs 1,270-1,320 a quintal as against of the previous level of Rs 1,290-1,315 a quintal on better demand and moderate arrivals.
Sugar M-30 grade softened to Rs 1,295-1,380 from the previous level of Rs 1,305-1,385 a quintal on better offtake.
Sugar for the check post deliveries were quoted easy at Rs 1,260-1,275 a quintal for S-30 grade and Rs 1,285-1,340 for the M-30 grade.
Non-ferrous metals: An overall steady to subdued was noticed in the local non-ferrous market yesterday. Industrial demand remained slack.
The trade volume remained small.
In virgin section, all the metals ruled overall steady on narrow movements and were nominally quoted.
The nominal prices quoted per kg at the market were: copper wirebar Rs 134, aluminium ingots Rs 74, zinc slabs Rs 76.50, lead ingots Rs 45.50, tin slabs Rs 312 and nickel cathodes Rs 373.
In scraps, all the metals like copper heavy scraps, copper utensils, brass utensils, brass sheet-cuttings and aluminium utensils ruled steady on narrow movements and were nominally quoted at Rs 121, Rs 109, Rs 92.25, Rs 96.25 and Rs 59 a kg respectively.
Bullion: A downward to dull trend was noticed in the local bullion market yesterday.
Both the precious metals declined on weak overseas market coupled with dull demand on account of the off season.
The undertone of the market remained weak.
In white metals, silver .999 and .916 declined by Rs 70 each to Rs 7,355 and Rs 7,255 a kg on weak advices of London bullion market. The demand was sluggish with better arrivals.
The industrial offtake remained dull in the local market. Delhi advices indicated a weak trend, too.
In yellow metals, standard gold and 22 carat gold eased by Rs 25 each to Rs 4,770 and Rs 4,410 per 10 grams respectively on dull overseas advices.
The demand from consumers, too, was reduced. Gold biscuits, too, prices declined by Rs 200 at Rs 55,800 per piece of 10 tolas on dull demand.