Groundnut oil recovered at reduced levels on slightly improved seasonal demand and normal arrivals from the producing centres at the local wholesale oils and oil seeds market yesterday. Demand remained modest.
Imported palmolein ruled firm on limited arrivals. In futures section, castorseeds December contract opened higher and firmed up further towards closing. March 98 contract opened up and ruled steady throughout the session.
Groundnut oil firmed up by Re 1 at Rs 345 per 10 kg on better demand against subdued arrivals from the producing centres. Arrivals were put at around 90 tonnes a day. Linseed and kardi oil receded by Rs 5 and Rs 3 to Rs 270 and Rs 325 per 10 kg respectively. Mowra oil and ricebran oil firmed up by Rs 5 each to Rs 230 and Rs 165 per 10 kg respectively on better demand. Sesame oil and neem oil declined by Rs 5 each to Rs 295 and Rs 155 per 10 kg .Imported palmolein improved by Rs 2 at Rs 266 per 10 kg.
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In futures section, December contract opened Re 1 up at Rs 1160 a quintal and firmed up to Rs 1161.50. It declined to Rs 1159.50 before closing at Rs 1161 a quintal Sugar: A mixed trend continued at the local sugar market yesterday. Small grade sugar ruled subdued while the medium grade ruled firm
Sugar S-30 ruled at Rs 1510/1530 a quintal on subdued consumer demand and normal arrivals.The M-30 grade firmed up to Rs 1530/1566 a quintal. Sugar for the check post deliveries were quoted low at Rs 1490/1500 a quintal for S-30and Rs 1510/1520 for the M-30 grade.
Non-ferrous metals: A steady trend was noticed in the local non-ferrous market. The virgin metals ruled overall steady and were nominally quoted as: copper wirebar Rs 128, aluminium ingots Rs 82, zinc slabs Rs 81, lead ingots Rs 41, tin slabs Rs 305 and nickel cathodes Rs 310 a kg respectively.
In scraps section, all the metals ruled steady and were nominally quoted as: copper heavy scraps Rs 115, copper utensils Rs 107.50, brass utensils Rs 93.50, brass sheetcuttings Rs 99.50 and aluminium utensils Rs 62.00 a kg Bullion: An overall fall has been witnessed at higher levels in the local bullion market yesterday. Both the precious metals ruled easy. In white metals, silver both .999 and .916 declined by Rs 15 each to Rs 6850 and Rs 6750 a kg respectively on mainly weak overseas advices and modest consumer buying.
In yellow metals, both standard gold and 22 carat gold softened by Rs 15 and Rs 20 to Rs 4285 and Rs 3960 per 10 grams respectively on dull overseas advices and reduced buying interests. Gold biscuit prices also lost Rs 200 at Rs 50,100 per piece of gold bar of 10 tolas.