Groundnut oil eased further on dull demand coupled with better arrivals from the upcountry centres yesterday whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market in Turbhe, Navi Mumbai.
Imported palmolein ruled easy on modest arrivals. In futures section, castorseeds March 97 contract remained untraded yesterday while June 97 contract opened higher but eased towards closing.
Groundnut oil eased further by Rs 2 at Rs 338 per 10 kg on subdued consumer offtake coupled with brisk arrivals. Arrivals were put around 120 tonnes a day.
Linseed oil and kardi oil, too, eased further by Re 1 and Rs 3 to Rs 290 and Rs 334 per 10 kg, respectively, on reduced industrial demand coupled with improved inflows. Cottonseed oil washed and refined qualities declined further by Rs 2 each to Rs 266 and Rs 270 per 10 kg, respectively, on sluggish industrial demand. Copra oil white declined by Rs 20 to Rs 640 per 10 kg on reduced industrial demand coupled with modest arrivals. Karanji oil lost Rs 5 to Rs 200 per 10 kg on dull demand. Imported palmolein ruled easy by Rs 2 at Rs 275 per 10 kg on subdued offtake. In futures, castorseeds June 97 contract opened Re 1 up at Rs 1191.50 and firmed up to Rs 1197.50 per quintal. It declined and closed to Rs 1191 a quintal on moderate trading. In oilseeds, kardi seeds declined by Rs 15 to Rs 1060 a quintal on reduced industrial demand coupled with better inflows.
Castorseeds Madras and Maharashtra qualities firmed up by Rs 10 each to Rs 1,114 and Rs 1,108 a quintal respectively on better industrial offtake.
Sugar: An easy to subdued trend continued in sugar prices at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. The demand remained sluggish against better inflows. The undertone of the market was hesitant. Sugar S-30 grade declined further to Rs 1245/1280 a quintal as against of the previous level of Rs 1,245/1,300 a quintal on reduced demand and moderate arrivals.
While sugar M-30 grade eased further to Rs 1285/1345 from the previous level of 1290/1360 a quintal on dull offtake.
Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1212/1230 a quintal for S-30 grade.
Non-ferrous metals: A steady-to-subdued trend was noticed in the local non-ferrous market yesterday. Industrial demand remained slack and volumes were small. Prices were nominally quoted as under :
In virgin section, copper wirebars were at Rs 134.50, aluminium ingots Rs 74, zinc slabs Rs 77, lead ingots Rs 45.50, tin slabs Rs 315 and nickel cathodes Rs 373 per kg, respectively, on subdued industrial demand and narrow movements. In scraps section, copper heavy scrap was quoted at Rs 121.50, copper utensils Rs 109.50, brass utensils Rs 92.50, brass utensils Rs 96.50 and aluminium utensils Rs 59.00 a kg, respectively, on narrow movements.
Bullion: A divergent trend was noticed in the local bullion market yesterday. Gold prices witnessed an upward trend while silver prices ruled easy in the precious metals. In white metals, silver .999 and .916 eased by Rs 25 each to Rs 7,280 and Rs 7,180 a kg on weak advices of London bullion market coupled with reduced demand and modest arrivals.
The industrial offtake remained sluggish in the local market. Delhi advices also indicated a weak trend. In yellow metals, standard gold and 22 carat gold firmed up by Rs 5 each to Rs 4,735 and Rs 4,380 per 10 grams, respectively, on firm overseas advices coupled with better consumer demand. Gold biscuits prices also improved by Rs 100 at Rs 55,400 per piece of 10 tolas on improved demand.
