Groundnut oil ruled steady on subdued demand coupled with modest arrivals from the producing centres. The other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.
Groundnut oil was nominally quoted at Rs 345 per 10 kg on narrow movement. Modest arrivals were the order of the day and were put at around 90/95 tonnes.
Kardi oil and sesame oil looked up by Rs 3 and Rs 2 to Rs 328 and Rs 300 per 10 kg Soya oil refined lost Rs 4 to Rs 271 per 10 kg. Rapeseed oil refined eased by Re 1 at Rs 274 per 10 kg. Imported palmolein ruled overall steady and was nominally quoted at Rs 268 per 10 kg on narrow movements.
In the futures section, December contract opened steady at the previous level of Rs 1162 and firmed up to Rs 1162.50 a quintal. It declined to Rs 1161.50 before closing at Rs 1162 on speculative movements. March98 contract opened Re 1 up at Rs 1129 a quintal and ruled steady.
Sugar: An easy-to-weak trend was noticed at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both the grades of sugar ruled subdued-to-weak. The undertone remained weak.
S-30 ruled at Rs 1502/1522 from the previous level of Rs 1505/1521.25 a quintal. M-30 eased to Rs 1521/1551 against the previous level of Rs 1524/1562 a quintal.
Non-ferrous metals : Nickel and copper scraps ruled slightly firm while all the other metals indicated a steady trend in the local non-ferrous market yesterday. The overall demand remained steady. The undertone of the market was weak.
In the virgin section, nickel cathodes looked up by Re 1 at Rs 312 a kg The other metals ruled were nominally quoted as under : Copper wirebar Rs 127.50, aluminium ingots Rs 82.50, zinc slabs Rs 76, lead ingots Rs 41 and tin slabs Rs 307 per kg. respectively.
In the scraps section, copper heavy scraps firmed up by 50 paise at Rs 116 a kg. The other metals were quoted as under : Copper utensils Rs 108, brass utensils Rs 92, brass sheetcuttings Rs 98 and aluminium ingots Rs 62.50 a kg respectively on narrow movements.
Bullion : An upward trend was noticed in bullion prices in the local bullion market yesterday. Both the precious metals ruled strong on firm overseas advices. However, the undertone was hesitant. Silver both .999 and .916 improved by Rs 60 and Rs 50 to Rs 6690 and Rs 6590 a kg respectively. Both standard gold and 22 carat gold went up by Rs 25 each to Rs 4170 and Rs 3860 per 10 grams respectively. The arrivals again remained modest. Gold biscuit prices also looked up by Rs 300 at Rs 48,800 per piece of gold bar of 10 tolas.
