An easy trend was noticed in groundnut oil, whereas other industrial oils ruled easy to subdued at the wholesale oils and oilseeds market yesterday. Imported palmolein ruled steady on subdued demand as against modest arrivals. In future section, castorseeds June contract remained untraded, while September contract opened higher and firmed up further towards closing.
Groundnut oil eased by Rs 2 at Rs 350 per 10 kg on modest arrivals on account of rainfall in groundnut producing regions of Gujarat. The demand remained dull. Arrivals were put at around 90 tonnes a day.
In other oils, linseed oil and kardi oil declined by Rs 7 and Rs 3 to Rs 278 and Rs 367 per 10 kg respectively on reduced industrial demand coupled with better arrivals. Coconut oil white improved by Rs 10 to Rs 550 per 10 kg on improved demand from the industrial sectors coupled with restricted availability. Karnji oil and sunflower oil expeller declined by Rs 5 and Rs 2 to Rs 145 and Rs 272 per 10 kg respectively on reduced industrial offtake.
In futures section, castorseeds September contract opened Rs 2.50 higher at Rs 1122 and firmed up to Rs 1126.50 a quintal. It declined to Rs 1121 before closing at Rs 1126.50 on speculative shortcoverings.
Sugar: A firm-to-upward trend was noted at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both the grades of sugar ruled firm. The undertone of the market was firm.
Sugar S-30 grade firmed up to Rs 1458/1490 as against the previous level of Rs 1440/1470 a quintal on better demand coupled with limited availability. While sugar M-30 firmed up to Rs 1475/1515 as against the previous level of Rs 1460/1510 a quintal. Sugar for the check post deliveries were quoted low at Rs 1430/1450 a quintal for S-30 grade and Rs 1450/1480 for the M-30 grade.
Non-ferrous metals: Nickel and tin prices ruled easy on improved arrivals against reduced demand, while copper wirebars firmed up on improved offtake.
In virgin section, nickel cathodes and tin slabs eased by Re 1 each to Rs 347 and Rs 300 per kg respectively. Copper wirebars firmed up by 25 paise at Rs 138.50 a kg on better industrial offtake. Other metals were nominally quoted as under: aluminium ingots Rs 77, zinc slabs Rs 81.50 and lead ingots Rs 41 a kg respectively. In scraps section, a total quiet conditions were noticed in the market. All metals ruled steady and were nominally quoted as : copper heavy scraps Rs 128.50, copper utensils Rs 115.75, brass utensils Rs 97.50, brass sheetcuttings Rs 102 and aluminium utensils Rs 60 a kg. respectively.
Bullion: A mixed trend was noticed in the local bullion market yesterday. Silver ruled overall steady, while gold eased on weak overseas advices, subdued demand coupled with better arrivals. The undertone of the market was hesitant.
In yellow metals, standard gold and 22 carat gold eased by Rs 20 each to Rs 4530 and Rs 4,190 per 10 grammes respectively.. Gold biscuits prices also weakened by Rs 200 at Rs 53,000 per piece of 10 tolas.
In white metals, quiet conditions were noticed. Both the silvers i.e. silver .999 and .916 ruled steady and were nominally quoted at Rs 6700 and Rs 6600 a kg respectively.
