A firm trend was noticed in groundnut oil, whereas other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm on better demand as against modest arrivals. In future section, castorseeds June contract remained untraded, while September contract opened higher, but eased towards closing.
Groundnut oil slightly firmed up by Rs 2 at Rs 357 per 10 kg on reduced arrivals due to rainfall in groundnut producing regions of Gujarat. The demand remained moderate against limited arrivals from the oil producing centres.
Arrivals were put at around 80 tonnes a day. In other oils, sesame oil and coconut oil white firmed up by Rs 5 each to Rs 295 and Rs 555 per 10 kg respectively. Castor oil commercial and BSS qualities firmed up by Re 1 each to Rs 249 and Rs 261 per 10 kg respectively on good offtake. Meanwhile, majority of other oils ruled overall steady.
In futures section, castorseeds September contract opened Rs 3 higher at Rs 1148 a quintal and remained at the same level. It declined to Rs 1145 before closing at Rs 1,145.50 a quintal.
In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1,099 and Rs 1,093 a quintal on improved offtake. All the other oilseeds ruled overall steady.
Sugar: An upward trend was arrested and prices of sugar slightly eased at the wholesale sugar market yesterday. Both the grades of sugar slided. The undertone of the market was not firm.
Sugar S-30 grade eased to Rs 1,455/1,475 as against the previous level of Rs 1,455/1,480 a quintal on easy demand coupled with better availability. Sugar M-30 slided to Rs 1,470/1,508 as against the previous level of Rs 1,480/1,508 quintal.
Meanwhile, sugar for the check post deliveries were quoted low at Rs 1,430/1,450 a quintal for S-30 grade and Rs 1,445/1,470 for the M-30 grade.
Non-ferrous Metals: A steady-to-easy trend was noticed in the local non-ferrous market yesterday. In scraps section, total quiet conditions were noticed in the market. The metals were nominally quoted as under: copper heavy scraps, Rs 128.50, copper utensils, Rs 116.25, brass utensils, Rs 97, brass sheetcuttings, Rs 102, and aluminium utensils, Rs 60 a kg respectively.
In virgin section, all the metals ruled overall steady and were nominally quoted as under: copper heavy scraps, Rs 139.25, aluminium ingots, Rs 77, zinc slabs, Rs 81, lead ingots, Rs 41, tin slabs, Rs 305 and nickel cathodes, Rs 358 a kg respectively.
Bullion: An easy-to-downward trend was noticed in the local bullion market yesterday. Both the precious metals ruled dull on weak overseas advices, slack demand coupled with brisk arrivals. The undertone of the market was hesitant.
In white metals, silver.999 and .916 declined by Rs 15 each to Rs 6,725 and Rs 6,625 a kg respectively on reduced industrial demand coupled weak overseas advices. Delhi advices indicated a weak trend.
In yellow metals, standard gold and 22 carat gold declined by Rs 15 and Rs 10 to Rs 4,625 and Rs 4,280 per 10 grammes respectively. Gold biscuits prices also declined by Rs 200 at Rs 54,100 per piece of 10 tolas.
