A mixed trend was noticed in the local bullion market yesterday. Yellow metals ruled firm, while white metals ruled overall steady on subdued consumer as well as industrial demand. The undertone of the market remained hesitant.
In yellow metals, standard gold and 22-carat gold firmed up further by Rs 30 each to Rs 4,420 and Rs 4,090 per 10 gms respectively on firm overseas advices, better demand and modest arrivals. Gold biscuit prices also improved by Rs 300 at Rs 51,800 a piece of gold bar of 10-tolas.
In white metals, silver .999 and silver .916 ruled overall steady and were nominally quoted at Rs 6,775 and Rs 6,675 a kg respectively on narrow movements. Delhi advices also indicated modest trend.
Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous market yesterday. The demand remained subdued as against modest arrivals. The undertone of the market was hesitant.
In virgin section, tin slabs firmed up by Rs 2 at Rs 297 a kg on improved industrial offtake and limited arrivals, while nickel cathodes declined by Rs 2 at Rs 323 a kg on dull industrial demand and better inflows.
Meanwhile, all other metals ruled overall steady and were nominally quoted as under: copper wirebar Rs 129, aluminium ingots Rs 78, zinc slabs Rs 85.50 and lead ingots Rs 41 a kg respectively on narrow movements.
In scraps section, a quiet trend was noticed. All the metals ruled overall steady and were nominally quoted as under: copper heavy scraps Rs 121.50, copper utensils Rs 110.75, brass utensils Rs 97.25, brass sheetcuttings Rs 102.50 and aluminium utensils Rs 60 a kg respectively on narrow movements.
Sugar: The market remained closed as the Sugar Merchants Association observed strike against the increase in cess by the Navi Mumbai Municipal Corporation.
Oils and oilseeds: The Bombay Oilseeds and Oils Exchange remained officially closed on account of the death of one of the directors of the exchange.
Cotton prices up: Desi and staple cotton prices continued to rise in Punjab and Haryana markets yesterday on fresh buying by local and Panipat mills, traders said.
A good demand from local mills for the staple varieties and Panipat mills from desi ones against scattered arrrivals pushed up the prices, they said.
Low stocks also resulted in the price rise, they added. F-414 cart selected sawgin prices rose to Rs 5760/5787 a quintal against Rs 5660/5787 during the previous trading while j-34 cart selected sawgin prices improved to Rs 5492/5519 a quintal from Rs 5546/5492. Bengal desi cotton prices increased to Rs 3282/3375 against Rs 3242/3362 (PTI)
Following were today's prices:(rate Rs/quintal): f-414 cart selected sawgin 5760-5787; j-34 cart selected sawgin 5492/5519; bengal desi 3282/3375.
