An upward to firm trend was witnessed at the Turbhe sugar wholesale market in Navi Mumbai yesterday. The demand remained better as against limited arrivals. The undertone of the market remained weak.
Sugar S-30 grade firmed up to Rs 1,290/1,326 a quintal from the previous level of Rs 1,290/1,320, while that of M-30 grade eased to Rs 1,350/1,415 a quintal from Rs 1,350/1,410. Sugar for check-post deliveries was quoted low at Rs 1,260/1,280 a quintal for S-30 grade, while Rs 1,310/1,370 a quintal for M-30 grade.
Non-ferrous metals: Virgin metals ruled easy to steady while all the scraps metals ruled overall steady at the local non-ferrous market. Industrial demand remained subdued to moderate. The trade volume remained small.
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The undertone of the market remained weak.
In virgin section, tin slabs and nickel cathodes declined by Rs 2 each to Rs 312 and Rs 363 a kg respectively on reduced industrial demand and improved arrivals.
Meanwhile, other metals like copper wirebar, aluminium ingots, zinc slabs and lead ingots ruled overall steady and were nominally quoted at Rs 135.25, Rs 74.50, Rs 78.50, and Rs 45.50 a kg respectively on narrow movements. In scraps section, all the scraps metals ruled overall steady on narrow movements and were nominally quoted as under: copper heavy scraps Rs 122.25, copper utensils Rs 110, brass utensils Rs 93, brass sheet cuttings Rs 97 and aluminium utensils Rs 59.50 a kg respectively. The industrial offtake remained subdued.
Bullion: A downward trend witnessed in the local bullion market yesterday. Both the precious metals ruled easy on reduced demand coupled with improved arrivals. The demand overall remained dulll. The undertone of the market was shaky.
In white metals, silver.999 and .916 eased further by Rs 40 each to Rs 6,960 and Rs 6,860 a kg respectively on subdued industrial demand coupled with weak overseas advices. Delhi advices also indicated weak trend.
In yellow metals, standard gold and 22-carat gold declined by Rs 15 each to Rs 4,795 and Rs 4,435 per 10 grammes respectively on profit taking, reduced offtake coupled with subdued arrivals.
Overseas advices for gold also showed an easy trend. Gold biscuits prices also declined by Rs 200 at Rs 56,100 per piece of 10 tolas on better consumer offtake.
Oils and oilseeds: The Bombay Oilseeds and Oils Exchange remained closed on account of Babasaheb Ambedkar Jayanti and hence official quotations could not be available.