Groundnut oil continued to improve on better consumer offtake whereas industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein suffered a setback on reduced demand as against better arrivals. In futures section, castorseeds September contract opened higher and firmed up towards the closing.
Groundnut oil improved further by Rs 2 at Rs 375 per 10 kg on firm demand at reduced levels coupled with lower arrivals. Linseed and mowra oil looked up by Rs 5 each to Rs 295 and Rs 245 per 10 kg on better industrial demand.. Copra oil white declined by Rs 15 to Rs 540 per 10 kg on lesser industrial offtake.
In futures section, castorseed September contract opened Rs 5.50 higher at Rs 1154.50 and improved to Rs 1157.50 a quintal. It declined to Rs 1153 before closing at Rs 1155 on shortcoverings.
In oilseeds, castorseeds Madras and Maharashtra qualities declined by Rs 5 each to Rs 1157 and Rs 1151 a quintal respectively on reduced industrial demand. All other oilseeds ruled steady on narrow movements.
Sugar: An easy to subdued trend was noticed at the wholesale sugar market yesterday. Both grades of sugar ruled steady to subdued. The undertone of the market was weak. Sugar S-30 grade ruled steady on the whole at the previous level of Rs 1465/1500 a quintal on easy demand. sugar M-30 ruled at Rs 1485/1535 as against the previous level of Rs 1490/1525 a quintal on subdued offtake. Sugar for the check-post deliveries was quoted at Rs 1440/1460 a quintal for S-30 grade and Rs 1465/1485 for the M-30 grade.
Non-ferrous metals: A steady trend was noticed in the local non-ferrous market. The demand remained subdued compared with modest arrivals. The undertone of the market was hesitant.
In the virgin section, a quiet trend was noticed. All the metals ruled steady on the whole and were quoted nominally as under: copper wirebars - Rs 135.25, aluminium ingots - Rs 77, zinc slabs - Rs 82.50, lead ingots - Rs 41.50, tin slabs - Rs 285 and nickel cathodes - Rs 334 a kg respectively on narrow movements.
In the scraps section, all metals ruled steady and were quoted as under: copper heavy scraps - Rs 125.50, brass utensils - Rs 96, brass sheetcuttings - Rs 101 and aluminium utensils at Rs 59.50 a kg on narrow movement.
Bullion: A mixed trend was noticed in the local bullion market yesterday. Yellow metals ruled easy, while the white metal ruled steady on the whole. The undertone of the market was weak. In yellow metals, standard gold and 22-carat gold declined further by Rs 30 each to Rs 4,520 and Rs 4,180 per 10 grammes respectively on reduced demand coupled with improved arrivals and weak London advices. Gold biscuit prices lost Rs 300 at Rs 52,900 per piece of 10 tolas on subdued movements.
In white metals, silver.999 and .916 ruled steady and were quoted at Rs 6,250 and Rs 6,150 a kg respectively on narrow movements. Delhi advices indicated a weak trend.
