Groundnut oil firmed up on better offtake coupled with restricted arrivals from the producing centres whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Imported palmolein strengthened on improved demand coupled with reduced inflows.
Groundnut oil recovered by Rs 2 at Rs 363 per 10 kg on renewed consumer demand at lower levels. In other oils, sesame oil and copra oil white declined by Rs 5 and Rs 10 to Rs 335 and Rs 520 per 10 kg respectively. Soya oil and sunflower oil expeller firmed up by Rs 2 and Rs 5 to Rs 314 and Rs 352 per 10 kg. Imported palmolein improved by Rs 4 at Rs 308 per 10 kg.
In futures section, castorseeds March '98 contract opened Re one up at Rs 1214 and improved to Rs 1225 a quintal. It declined to Rs 1214 before closing at Rs 1222 a quintal. June contract opened Rs 14 higher at Rs 1252 and firmed up to Rs 1260 a quintal. It declined to Rs 1252 before closing at Rs 1260 a quintal on speculative buying.
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Sugar: A divergent trend was noticed in sugar prices on lower consumer offtake coupled with normal arrivals
Sugar S-30 grade eased to Rs 1450/1471 against the previous level of Rs 1450/1480 a quintal.
Sugar M-30 grade firmed up to Rs 1465/1545 as against the previous level of Rs 1460/1540 a quintal.
Meanwhile, sugar for the check post deliveries were quoted firm at Rs 1425/1440 a quintal for S-30 grade and Rs 1445/1470 for the M-30 grade.
Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday.
In scraps section, copper heavy scraps and copper utensils declined by 50 paise each to Rs 105.50 and Rs 94 a kg respectively. Brass utensils and brass sheetcuttings eased by 25 paise each to Rs 83.50 and Rs 88.25 a kg respectively. Meanwhile, aluminium utensils ruled overall steady and were nominally quoted at Rs 62.50 a kg.
In virgin metals, copper wirebars eased by 50 paise at Rs 115.50 a kg. Nickel cathodes and tin slabs declined by Rs 4 and Rs 3 to Rs 323 and Rs 332 a kg. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : aluminium ingots Rs 82, zinc slabs Rs 71.50 and lead ingots Rs 40 a kg respectively.
Bullion: Silver continued to decline at higher levels on heavy selling pressure by local dealers while gold ruled firm in the local bullion market yesterday.
In white metals, silver .999 and .916 declined further by Rs 175 and Rs 205 to Rs 8,815 and Rs 8,660 a kg respectively on profit booking.
In yellow metals, both standard gold and 22 carat gold looked up by Rs 15 each to Rs 4,010 and Rs 3,710 per 10 grammes. Gold biscuit prices also firmed up by Rs 200 at Rs 46,900 per piece of bar.