An easy trend was witnessed in groundnut oil while other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market here yesterday.
In futures, castor seeds March '98 contract opened higher and ruled steady towards closing, while June contract opened lower but advanced towards closing.
Groundnut oil eased by Re 1 at Rs 369 per 10 kg on subdued consumer demand. Arrivals were put at around 90/100 tonnes a day.
Cottonseed oil-washed and soybean oil refined firmed up by Rs 2 and Re 1 to Rs 321 and Rs 322 per 10 kg respectively. Sunflower oil-expeller declined Rs 5 to Rs 355 per 10 kg on reduced industrial demand and better arrivals from the producing centres. Imported palmolein firmed up by Re 1 at Rs 325 per 10 kg.
In futures, castorseeds March 98 contract opened Rs 2.50 up at Rs 1213.50 a quintal and ruled at the same level throughout the trading session. The June contract opened Re 1 lower at Rs 1,249.50 and firmed up to Rs 1,259 a quintal. It declined to Rs 1249.50 before closing at Rs 1257.50 a quintal.
Sugar: An easy-to-subdued trend prevailed on lower consumer offtake and modest arrivals at he local sugar market. The market undertone remained weak.
Sugar S-30 ruled subdued at Rs 1424/1450 from the previous level of Rs 1422/1450 a quintal on modest demand. The M-30 grade declined to Rs 1430/1505 as against of the previous level of Rs 1440/1505 a quintal. Meanwhile, sugar for the check post deliveries were quoted lower at Rs 1405/1418a quintal for S-30 and Rs 1418/1465 for the M-30 grade.
Non-ferrous metals: A steady trend was noticed in the local non-ferrous metals market. The demand remained modest against normal arrivals. The undertone remained hesitant. In scraps, all metals ruled overall steady and were nominally quoted as: copper heavy scraps Rs 105, copper utensils Rs 93.50, brass utensils Rs 83.00, brass sheetcuttings Rs 87.50 and aluminium utensils Rs 62.00 a kg respectively.
In virgin metals, all the metals ruled steady as: copper wirebar Rs 114.50, aluminium ingots Rs 82, zinc slabs Rs 70.75, lead ingots Rs 40, tin slabs Rs 345 and nickel cathodes Rs 310 a kg. respectively.
Bullion: A divergent trend witnessed in the local bullion market. Silver eased on weak overseas advices coupled with easy arrivals, while gold ruled firm.
In white metals, silver .999 and .916 eased by Rs 5 and Rs 15 to Rs 8765 and Rs 8645 a kg respectively on weak overseas advices and improved arrivals. Industrial demand was sluggish at higher levels. Delhi advices also indicated a subdued trend.
In yellow metals, both- standard gold and 22 carat gold edged up by Rs 5 each to Rs 3975 and Rs 3675 per 10 grams. The overseas advices also indicated a firm trend. Gold biscuit prices ruled overall steady and were nominally quoted at Rs 46,500 per piece of gold bar on narrow movements.
