Groundnut oil firmed up on modest demand and subdued arrivals, while other industrial oils indicated steady-to-subdued trend at the wholesale oils and oilseeds market at Turbhe yesterday. Imported palmolein eased on reduced demand. In the futures section, the March 1997 contract opened higher and advanced further towards the fag end of the day.
Groundnut oil firmed up by Re 1 to Rs 344 per 10 kg on better demand, coupled with moderate arrivals. Arrivals were put at around 100/110 tonnes a day.
In other oils, linseed oil and sesame oil improved by Rs 5 and Rs 3 to Rs 315 and Rs 313 per 10 kg respectively. Cottonseed oil washed improved by Rs 3 at Rs 285 per 10 kg on improved offtake, while mowra oil moved up by Rs 10 at Rs 270 per 10 kg on better offtake. Copra oil white grew by Rs 20 to Rs 650 per 10 kg on firm demand, while sunflower oil expeller declined by Rs 2 at Rs 293 per 10 kg on reduced demand.
Ricebran oil improved by Rs 5 at Rs 170 per 10 kg. Karanji oil firmed up by Re 1 at Rs 186 per 10 kg. Imported palmolein eased by Re 1 at Rs 284 per 10 kg on subdued demand. In the futures section, the March 1997 contract opened Rs 6 higher at Rs 1,174 and firmed up to Rs 1,180 per quintal. However, it declined to Rs 1,174 before closing at Rs 1,176 on speculative shortcoverings.
In oilseeds, castorseeds Madras and Maharashtra went up by Rs 2 each to Rs 1,104 and Rs 1,098 per quintal respectively on better offtake. An easy-to-downward trend continued at the wholesale sugar market at Turbhe yesterday. Sugar small grade eased to Rs 1,255/1,290 from the previous level of Rs 1,260/1,290 a quintal, while medium grade dipped to Rs 1,290/1,375 as against the previous level of Rs 1,295/1,374 a quintal. Sugar prices for the check-post were quoted lower at Rs 1,225/1,250 a quintal for S-30 grade, while Rs 1,250/1,320 a quintal for M-30 grade yesterday.
Virgin metals ruled firm-to-steady, while scrap metals were static on narrow movements in the local non-ferrous market yesterday. Tin slabs firmed up by Re 1 at Rs 345 per kg on better industrial offtake, while copper wirebars and zinc slabs improved by 50 paise each to Rs 126.50 and Rs 67 a kg respectively. Lead ingots hardnened by 25 paise at Rs 45.25 a kg. In scraps section, all the scraps moved in a narrow groove. Prices remained unchanged and were nominally quoted per kg were as under : copper heavy scraps Rs 117.50, copper utensils Rs 104.50, brass utensils Rs 87.25 and aluminium utensils Rs 58.
In the local bullion market, silver ruled easy, while gold ruled steady on modest overseas advices. The undertone of the market remaind subdued.
In white metals, silver .999 declined by Rs 10 at Rs 6,775 per kg on reduced industrial demand, while .916 firmed up by Rs 15 to Rs 6675 per kg on slightly better demand, coupled with firm upcountry advices. Delhi advices also indicated better trend yesterday.
In yellow metals, standard gold and 22 carat gold ruled overall steady on narrow movments and were nominally quoted at Rs 4900 and Rs 4530 per 10 grams respectively.
