The downward trend in groundnut oil was arrested yesterday on improved demand coupled with restricted arrivals. Other industrial oils ruled easy-to-steady. In the futures section, castor seeds June contract opened higher and advanced further towards closing.
Groundnut oil rose Rs 5 at Rs 395 per 10 kg on better consumer demand coupled with limited arrivals. Arrivals were put at around 80 tonnes a day.
Linseed and kardi oil advanced by Rs 5 each to Rs 360 and Rs 475 per 10 kg respectively. Mowra oil and neem oil soared by Rs 15 and Rs 10 to Rs 275 and Rs 190 per 10 kg. Ricebran oil receded by Rs 3 to Rs 182 per 10 kg. Sesame and rapeseed oil refined firmed up by Rs 5 and Rs 3 to Rs 385 and Rs 358 per 10 kg respectively. Imported palmolein improved by Rs 3 at Rs 355 per 10 kg on limited arrivals.
In futures, the June contract opened Rs 3.50 higher at Rs 1,287 a quintal and firmed up further to Rs 1297.50. It, however, dipped to Rs 1,287 before closing at Rs 1,296 a quintal. Castorseeds Madras and Maharashtra firmed up by Rs 4 each to Rs 1,243 and 1,237 a quintal respectively.
Sugar: An easy-to-subdued trend prevailed in sugar prices yesterday. Both the grades ruled weak.
Sugar S-30 grade eased to Rs 1420/1460 against the previous level of Rs 1423/1460 a quintal on subdued consumer demand. Sugar M-30 declined to Rs 1455/1520 against the previous level of Rs 1460/1530 a quintal.
Sugar for check-post deliveries was quoted lower at Rs 1404/1430 a quintal for S-30 grade and Rs 1450/1470 a quintal for the M-30 grade.
Non-ferrous metals: A steady-to-subdued trend was witnessed in non-ferrous metals yesterday. Demand remained subdued against normal arrivals. The undertone remained hesitant.
In the virgin section, copper wirebar eased by 50 paise at Rs 107.00 a kg on better upcountry arrivals, while zinc slabs looked up by 50 paise to Rs 71.50 a kg. Aluminium ingots was quoted at Rs 82, lead ingots Rs 41, tin slabs Rs 338 and nickel cathodes at Rs 305 a kg respectively.
In scraps, copper heavy scraps was quoted at Rs 107.50, copper utensils Rs 94, brass utensils Rs 84.50, brass sheetcuttings Rs 88.50 and aluminium Rs 62 a kg.
Bullion: A firm-to-upward trend continued in the local bullion market yesterday. The undertone of the market remained dull.
Silver .999 and .916 looked up by Rs 10 and Rs 25 to Rs 8690 and Rs 8590 a kg respectively on firm overseas advices and restricted upcountry arrivals.
In yellow metals, both standard gold and 22 carat gold firmed up by Rs 5 each to Rs 4055 and Rs 3750 per 10 grammes respectively on modest demand. Overseas advices also indicated a firm trend. Gold biscuit prices ruled overall steady and were nominally quoted at Rs 47,600 per piece on subdued movements.
