An easy-to-steady trend was seen in groundnut oil yesterday on improved stock availability. Demand was modest. Industrial oils ruled easy-to-steady.
Groundnut oil eased by Re 1 at Rs 502 per 10 kg on limited inflows from Gujarat. Arrivals were put at around 90 tonne yesterday.
Cottonseed oil washed and rice bran oil improved by Rs 2 and Rs 5 to Rs 422 and Rs 245 a quintal respectively. Castor oil commercial and BSS varieties ruled steady. Karanji oil eased Re 1 to Rs 192 per 10 kg on better supply of ready stock against dull offtake. Imported palmolein dropped by Rs 2 at Rs 382 per 10 kg.
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In futures, September '98 contract opened 50 paise lower at Rs 1447.50 and firmed up to Rs 1448.50 a quintal. It later declined to Rs 1446.50 a quintal.
In oilseeds, all castor seeds ruled overall steady.
Sugar: A steady-to-firm trend was witnessed in sugar prices yesterday. Both the grades of sugar showed a rather firm trend. Undertone was weak.
Sugar S-30 firmed up to Rs 1470/1485 a quintal against its previous level of Rs 1468/1485. Offtake remained better coupled with normal arrivals. Sugar M-30 hardened to Rs 1495/1540 a quintal as against Rs 1495/1530.
Sugar for the check-post deliveries were quoted lower at Rs 1450/1460 a quintal for S-30 grade and Rs 1475/1510 a quintal for the M-30 grade.
Non-ferrous metals: An easy-to-dull trend continued in the non-ferrous metals market yesterday. The demand was dull and undertone remained weak.
In virgin section, tin slabs and nickel cathodes declined by Rs 3 and Rs 5 to Rs 372 and Rs 287 a kg. Copper wirebar eased by 50 paise at Rs 129.50 a kg. Other metals ruled steady and were nominally quoted as under: aluminium ingots Rs 83, zinc slabs Rs 77.50 and lead ingots Rs 43.50 a kg.
In scraps, copper heavy declined by Re 1 at Rs 112 a kg. Copper utensils, brass utensils and brass sheetcuttings eased to Rs 101.50, Rs 87.75 and Rs 91.50 a kg. Aluminium utensils ruled steady and was nominally quoted at Rs 64.50 a kg.
Bullion: An easy-to-dull trend was noticed in the bullion market yesterday. Both precious metals ruled weak. Undertone was weak.
In white metals, silver .999 and .916 declined by Rs 40 and Rs 75 to Rs 8,050 and Rs 7,900 a kg respectively on weak overseas advices coupled with easy arrivals. The industrial offtake was sluggish.
In yellow metals, standard gold and 22 carat gold eased by Rs 10 each to Rs 4,275 and Rs 3,955 per 10 grammes respectively on dull overseas advices and sluggish demand. Gold biscuit prices weakened by Rs 300 at Rs 50,300 per piece.