Groundnut oil eased further on subdued demand and better arrivals. Other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.
Groundnut oil eased further by Re 1 at Rs 343 per 10 kg on subdued industrial as well consumer demand. Arrivals remained modest at around 90 tonnes a day.
Coconut oil white and karanji oil declined by Rs 20 and Rs 2 to Rs 545 and Rs 148 per 10 kg on reduced industrial demand coupled with improved inflows. Castor oil commercial and BSS qualities firmed up by Re 1 each to Rs 273 and Rs 285 per 10 kg.
Imported palmolein ruled overall steady and was nominally quoted at Rs 270 per 10 kg on subdued industrial demand. Meanwhile, majority of other oils ruled steady on narrow movements. In futures section, December contract opened Re 1 lower at Rs 1,194.50 and firmed up to Rs 1,200 a quintal. It declined to Rs 1,193 before closing at Rs 1,199.50. March 98 contract opened Rs 7 up at Rs 1,142 a quintal and improved to Rs 1,149. It declined to Rs 1,142 before closing at Rs 1,147.50 on speculative movements.
Sugar: An easy-to-weak trend was noticed in sugar prices at the wholesale sugar market yesterday. Both the grades ruled easy. The undertone of the market remained weak. S-30 eased to Rs 1482/1502 from the previous level of Rs 1481/1512 a quintal on reduced consumer demand and normal arrivals. M-30 ruled firm at Rs 1505/1538 against the previous level of Rs 1505/1546 a quintal on subdued offtake.
Non-ferrous Metals: An easy-to-downward trend continued in the local non-ferrous market yesterday. Both the metals ruled weak on sluggish industrial demand coupled with weak overseas advices. Copper heavy scraps and copper utensils eased further by 50 paise each to Rs 112.50 and Rs 100.50 a kg respectively on reduced industrial demand and improved inflows. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: brass utensils Rs 86, brass sheetcuttings Rs 94 and aluminium utensils Rs 62.50 a kg on narrow movements.
In virgin section, copper wirebar eased further by 50 paise at Rs 125 a kg on sluggish demand. Nickel cathodes and tin slabs dropped by Rs 3 and Re 1 to Rs 311 and Rs 311 a kg respectively.
Bullion: A divergent trend was noticed in bullion prices yesterday. Both the precious metals ruled in opposite direction. The undertone was hesitant.
Silver .999 and .916 looked up further by Rs 10 each to Rs 6,845 and Rs 6,745 a kg respectively on firm overseas advices and better consumer demand. Arrivals remained modest. Standard gold and 22-carat gold eased by Rs 10 each to Rs 4,230 and Rs 3,910 per 10 grammes respectively on dull overseas advices coupled with reduced demand. The arrivals remained modest. Gold biscuit prices declined by Rs 100 at Rs 49,500 on subdued offtake.
