Groundnut oil eased further on improved arrivals from the producing centres coupled with lower demand, while other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market here yesterday.
Groundnut oil weakened anew by Rs 2 at Rs 363 per 10 kg on reduced consumer demand. Linseed oil and cottonseed oil refined eased by Rs 5 and Rs 2 to Rs 325 and Rs 314 per 10 kg respectively. Copra oil white declined by Rs 15 to Rs 520 per 10 kg. Imported palmolein eased by Re 1 to Rs 305 per 10 kg.
In the futures section, castorseeds March98 contract opened 50 paise up at Rs 1174.50 and firmed up to Rs 1175.50 a quintal. It declined to Rs 1173 before closing at Rs 1174.50 a quintal on speculative movements.
In oilseeds, castorseeds Madras and Maharashtra qualities declined by Rs 5 each to Rs 1214 and Rs 1208 a quintal on reduced industrial buying.
Sugar: An upwardly firm trend was noticed in sugar prices on improved consumer offtake coupled with limited arrivals here yesterday. Both grades ruled firm. The undertone of the market remained dull.
S-30 looked up to Rs 1425/1465 a against the previous level of Rs 1411/1445 a quintal . M-30 firmed up to Rs 1445/1515 as against of the previous level of Rs 1435/1500 a quintal on improved offtake and reduced arrivals. Meanwhile, sugar for the check post deliveries were quoted firm at Rs 1405/1425 a quintal for S-30 and Rs 1435/1450 for the M-30.
Non-ferrous Metals :A firm-to-steady trend was noticed in the local non-ferrous metals market yesterday. The demand remained dull and the undertone was hesitant.
Copper heavy scraps, copper utensils and brass utensils looked up by 50 paise and 25 paise each to Rs 105.50, Rs 94.25 and Rs 83.25 a kg on better industrial demand. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : brass sheetcutings Rs 88 and aluminium utensils Rs 62.50 a kg respectively on narrow movements.
In virgin metals, copper wirebar firmed up by 25 paise at Rs 115.75 a kg.
Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : aluminium ingots Rs 82, zinc slabs Rs 71.50, lead ingots Rs 40, tin slabs Rs 335 and nickel cathodes Rs 327 a kg respectively.
Bullion: An easy-to-downward trend was witnessed in the local bullion market yesterday. Both precious metals ruled downward on weak overseas advices.
Silver .999 and .916 eased by Rs 10 and Rs 20 to Rs 8,290 and Rs 8,180 a kg respectively.
Both standard gold and 22 carat gold declined by Rs 30 and Rs 25 to Rs 3,945 and Rs 3,650 per 10 grams. Gold biscuit prices also dropped by Rs 300 to Rs 46,200 per piece on dull trading.
