Groundnut oil flared up on better demand against restricted arrivals from the producing centres on account of the frequent closures in the market, at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.
Imported palmolein showed an improvement in prices on limited arrivals and better demand. In futures, castorseeds June97 contract opened lower and declined further towards close.
Groundnut oil shot up by Rs 7 to Rs 367 per 10 kg on improved demand against the paucity of ready stock coupled with limited arrivals from the upcountry centres.
In other oils, cottonseed oil washed and refined qualities improved by Rs 7 and Rs 5 respectively to Rs 283 and Rs 288 per 10 kg on better industrial demand. Rapeseed oil refined, soya oil refined and sunflower oil expeller improved by Rs 6, Rs 7 and Rs 5 respectively to Rs 281, Rs 291 and Rs 275 per 10 kg on improved industrial demand. Imported palmolein firmed up by Rs 6 at Rs 293 per 10 kg on improved offtake and reduced availability.
In futures, castorseeds June97 contract opened Rs 2.50 lower at Rs 1,153 and ruled at the same level. It declined and closed at Rs 1,145.50 a quintal on selling pressure. In oilseeds, castorseeds Madras and Maharashtra qualities declined further by Rs 5 a quintal each to Rs 1,109 and Rs 1,103 a quintal respectively on reduced industrial demand. Sugar: A firm to upward trend was witnessed at the sugar wholesale market. Demand remained better to moderate. Sugar S-30 grade improved to Rs 1,315/1,350 a quintal from the previous level of Rs 1,300/1,350, while the M-30 grade firmed up to Rs 1,375/1,420 a quintal from Rs 1,365/1,425. Sugar for check-post deliveries was quoted low at Rs 1,290/1,310 a quintal for S-30 grade and Rs 1,340/1,355 a quintal for M-30 .
Non-ferrous Metals: Scrap metals continued to rule easy while virgin metals ruled easy to steady in the local non-ferrous market.
In scraps section, copper heavy scraps eased further by 50 paise to Rs 121.50 a kg on easy offtake, while copper utensils, brass utensils and brass sheetcuttings declined further by 50 paise each to Rs 109, Rs 92 and Rs 96 a kg respectively on reduced demand against improved availability of ready stock. Aluminium utensils ruled steady at Rs 59.50 a kg.
In virgin section, copper wirebars eased further by 50 paise at Rs 134.50 a kg on subdued industrial demand, while nickel cathodes declined further by Rs 2 to Rs 358 a kg respectively on reduced industrial demand and improved arrivals.
Aluminium ingots, zinc slabs, lead ingots and tin slabs ruled overall steady and were quoted at Rs 74.50, Rs 78.50, Rs 45.50 and Rs 310 a kg respectively on narrow movements.
Bullion: An upward trend continued in the local bullion market. Precious metals ruled firm on improved festive demand. In white metals, silver.999 and .916 firmed up further by Rs 20 and Rs 25 respectively to Rs 7,000 and Rs 6,900 a kg on improved industrial demand.
Delhi advices were firm. Standard gold and 22 carat gold improved further by Rs 15 and Rs 10 respectively to Rs 4,845 and Rs 4,480 per 10 grammes on improved offtake coupled with reduced arrivals.
Overseas advices for gold were firm. Gold biscuits prices firmed up by Rs 200 at Rs 56,700 per piece of 10 tolas on better consumer offtake.
