Groundnut oil continued to ease on brisk arrivals backed by subdued demand whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday.
Groundnut oil dipped further by Rs four at Rs 371 per 10 kg. In other oils, castor oil commercial and BSS qualities slipped further by Rs three each to Rs 275 and Rs 287 per 10 kg respectively. Neem oil firmed up by Rs five to Rs 175 per 10 kg. Soybean oil refined and sunflower oil expeller eased by Rs two each to Rs 320 and Rs 358 per 10 kg. Imported palmolein eased by Re one at Rs 319 per 10 kg on subdued demand at higher levels.
In futures section, castorseeds March '98 contract opened Rs 2.50 lower at Rs 1230.50 and firmed up to Rs 1231 a quintal. It declined to Rs 1230.50 before closing at Rs 1231 a quintal on speculative movements. The June contract opened Rs three lower at Rs 1275 a quintal., and closed at Rs 1272.50 a quintal.
Also Read
Castorseeds Madras and Maharashtra qualities declined further by Rs 14 each to Rs 1224 and Rs 1218 a quintal.
Sugar: A weak trend continued to prevailed in sugar prices on lower consumer offtake coupled with brisk arrivals at Turbhe, Navi Mumbai, yesterday.
Sugar S-30 grade declined further to Rs 1425/1469 from the previous level of Rs 1432/1471 a quintal. Sugar M-30 grade dipped further to Rs 1445/1519 as against the previous level of Rs 1445/1529 a quintal. Meanwhile, sugar for the checkpost deliveries were quoted lower at Rs 1412/1425 a quintal for the S-30 grade and Rs 1428/1450 for the M-30 grade.
Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday.
In virgin metals, nickel cathodes and zinc slabs declined by Rs three and 25 paise to Rs 315 and Rs 71.25 a kg respectively. All the other metals ruled overall steady, and were nominally quoted as under: copper wirebar Rs 114.50, aluminium ingots Rs 82, lead ingots Rs 40 and tin slabs Rs 345 a kg respectively.
In scraps section, all the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs 105, copper utensils Rs 93.25, brass utensils Rs 82.75, brass sheetcuttings Rs 87.25 and aluminium utensils Rs 62 a kg respectively.
Bullion: Silver reacted at higher levels on weak overseas advices coupled with better arrivals whereas gold ruled easy in the local bullion market yesterday. The undertone of the market remained dull.
In white metals, silver .999 and .916 declined by Rs 105 each to Rs 8895 and Rs 8785 a kg respectively. In yellow metals, both standard gold and 22 carat gold eased further by Rs 10 and Rs 20 to Rs 3,985 and Rs 3,675 per 10 grammes respectively. Gold biscuit prices also eased further by Rs 100 at Rs 46,600 per piece of bar.