Groundnut oil yesterday ruled steady on subdued demand coupled with normal arrivals from upcountry centres. Other industrial oils ruled easy-to-steady. Imported palmolein ruled firm on reduced arrivals.
In the futures section, castorseed March 97 contract remained untraded while the June97 contract opened higher. It, however, eased towards closing.
Groundnut oil ruled steady at the previous level of Rs 341 per 10 kg. Arrivals were put at about 120 tonnes.
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In other oils, linseed fell by Rs 2 to Rs 298 per 10 kg on reduced industrial demand coupled with improved inflows. Neem oil shot up by Rs 10 at Rs 190 on better industrial demand and restricted arrivals.
Coconut oil (white) declined by Rs 10 to Rs 660 per 10 kg on dull industrial demand coupled with brisk arrivals. Sunflower oil expeller firmed up by Rs 2 at Rs 267 per 10 kg on better demand. Imported palmolein too hardened by Rs 2 at Rs 280 per 10 kg on improved offtake. The majority of other oils ruled overall steady on narrow movements.
In futures, the castorseeds June97 contract opened Re 1 higher at Rs 1,216 and firmed up to Rs 1,217 a quintal. It declined to Rs 1,210 before closing at Rs 1,212 on speculative short-coverings.
In oilseeds, castor seeds Madras and Maharashtra improved by Rs 4 each to Rs 1,118 and Rs 1,112 per quintal respectively on better offtake. All other oilseeds ruled steady on narrow movements.
Sugar: A subdued-to-steady trend was yesterday witnessed in sugar. Demand remained moderate against subdued inflows. The undertone remained weak
Sugar S-30 ruled at Rs 1,268/1,305 a quintal against the previous close of Rs1,265/1,305. Sugar M-30 eased to Rs 1,295/1,374 a quintal from the previous level of Rs 1,305/1,379 on reduced offtake. Sugar for the checkpost deliveries were quoted easy at Rs 1,240/1,265 a quintal for S-30 and at Rs 1,265/1325 for M-30.
Non-ferrous metals: An overall steady-to-easy trend was in evidence at the local non-ferrous market yesterday.
Industrial demand remained slack. The traded volume remained small.
In the virgin section, all metals ruled overall steady on narrow movements. Demand remained sluggish. Copper wirebar was quoted at Rs 133.50, aluminium ingots at Rs 74, zinc slabs Rs 74.50, lead ingots Rs 45.25, tin slabs Rs 315 and nickel cathodes Rs 373 a kg respectively on narrow movements.
In the scraps section, copper heavy scraps, copper utensils, brass utensils, brass sheetcuttings and aluminium utensils ruled steady on narrow movements and were nominally quoted at Rs 120.50, Rs 108.50, Rs 92, Rs 95 and Rs 59 a kg respectively on narrow movements.
Bullion : An upward trend was noticed on the bullion market yesterday.
Both the precious metals ruled firm on better overseas advices.
In white metals, silver .999 and .916 improved by Rs 95 and Rs 90 to Rs 7,470 and Rs 7,370 a kg.on firm advices from the London market coupled with improved demand and restricted arrivals.
Industrial offtake too improved. Delhi advices also indicated a firm trend.
In yellow metals, standard gold and 22 carat improved further by Rs 5 and Rs 10 to Rs 4,830 and Rs 4,470 per 10 grams respectively on firm overseas advices coupled with better consumer demand.
Gold biscuit prices too rose by Rs 100 to Rs 56,500 per piece of 10 tolas.