Groundnut oil ruled firm following fear of the transport strike and hence improved consumer buyings coupled with restricted arrivals from the upcountry centres were seen yesterday, whereas the other industrial oils ruled firm at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai.
Imported palmolein firmed up further on better demand. In future section, castorseeds March97 contract remained untraded while June97 contract opened lower, but firmed up towards closing.
Groundnut oil improved further by Re 1 at Rs 355 per 10 kg on the widespread news of the transport strike coupled with improved consumer as well as institutional demand and limited arrivals. Arrivals were put about 70/90 tonnes a day.
In other oils, soya oil and sunflower oil expeller improved by Rs 3 and Rs 2 to Rs 280 and Rs 370 per 10 kg respectively on improved industrial demand coupled with limited inflows.
Neem oil declined by Rs 5 to Rs 185 per 10 kg respectively on dull industrial demand.Copra oil white declined further by Rs 25 to Rs 525 per 10 kg on reduced industrial demand coupled with better arrivals. Imported palmolein firmed up further by Rs 2 at Rs 284 per 10 kg on limited arrivals and better demand.
Meanwhile, majority of other oils ruled overall steady on narrow movements.
In futures, castorseeds June97 contract opened Rs 3.50 lower at Rs 1,177 and firmed up to Rs 1,182 a quintal. It declined to Rs 1,171.50 before closing at Rs 1,178 a quintal on shortcovering.
In oilseeds, castorseeds Madras and Maharashtra qualities eased by Rs 4 each to Rs 1,114 and Rs 1,108 a quintal respectively on easy offtake.
Meanwhile, all the other oilseeds ruled overall steady on narrow movements.
Sugar: Sugar prices continued to rule firm on news of the transport. Sugar of both the grades, that is, small and medium ruled firm to steady. The undertone of the market was firm.
Sugar S-30 grade moved up further to Rs 1,290/1,360 a quintal as against the previous level of Rs 1,301/1,350 a quintal on improved demand and moderate arrivals. Sugar M-30 grade firmed up to Rs 1,350/1,450 from the previous level of 1,360/1,451 a quintal on better offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1,265/1,300 a quintal for S-30 grade and Rs 1,315/1,390 for the M-30 grade.
Non-ferrous Metals: A steady to easy trend continued in the local non-ferrous market. Industrial demand remained dull to subdued.
The trade volume remained small. Prices of all the metals remained unchanged.
In virgin section, all the other metals ruled overall steady on narrow movements and were nominally quoted as under: copper wirebars, Rs 135, aluminium ingots, Rs 74.25, zinc slabs, Rs.77.50, lead ingots, Rs 45.50, tin slabs, Rs.316 and nickel cathodes Rs 370 a kg respectively on subdued industrial demand and narrow movements.
In scraps section, all the metals ruled overall steady on narrow movements and were nominally quoted as under: copper heavy scraps, Rs 122, copper utensils, Rs 109.50, brass utensils, Rs 92.75, brass sheetcuttings, Rs 96.75 and aluminium utensils, Rs 59.25 a kg respectively on narrow movements.
Bullion: Both the precious metals ruled firm on improved seasonal demand coupled with restricted arrivals in the local bullion market yesterday.
The demand remained better.The undertone of the market was firm.
In white metals, silver.999 and .916 improved by Rs 20 and Rs 15 to Rs 7,345 and Rs 7,240 per kg respectively on better industrial offtake and restricted arrivals.
In yellow metals, standard gold and 22 carat gold jacked up by Rs 45 and Rs 60 to Rs 4,725 and Rs 4,370 per 10 grammes respectively on better offtake.
Gold biscuits also firmed to Rs 55,300 from the previous level of Rs 54,800 per piece of 10 totals on better consumer demand.
