Weak- to-downward trend continued in groundnut oil whereas arrivals remained brisk from the producing centres yesterday. Other industrial oils ruled easy to subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.
Imported palmolein also ruled easy on dull demand. In futures section, Castorseeds June'97 contract opened lower and eased further towards closing. September contract remained untraded yesterday.
Groundnut oil declined further by Rs 3 at Rs 359 per 10 kg on reduced demand coupled with improved arrivals. Arrivals were put at around 100 tonnes a day. In other oils, copra oil white and linseed oil declined by Rs 10 and Rs 5 to Rs 565 and Rs 290 per 10 kg respectively on dull industrial offtake followed by improved arrivals. Kardi oil and sesame oil improved by Rs 2 and Rs 5 to Rs 360 and Rs 330 per 10 kg respectively on improved industrial demand coupled with limited inflows.
Imported palmolein eased by Re 1 at Rs 282 per 10 kg on subdued demand.
In futures, castorseeds June'97 contract opened 50 paise lower at Rs 1099 and remained at the same level. It declined and closed at Rs 1092 a quintal.
In oilseeds, nigerseeds Madras declined by Rs 20 at Rs 1430 a quintal on reduced demand and improved arrivals.
Bullion: An easy- to-downward trend was witnessed in the local bullion market yesterday. The undertone of the market was not firm. In white metals, silver.999 and .916 declined by Rs 30 and Rs 25 at Rs 7050 and Rs 6950 a kg respectively on reduced industrial demand coupled with modest arrivals. Delhi advices also indicated weak trend.
In yellow metals, standard gold and 22 carat gold eased by Rs 5 each to Rs 4820 and Rs 4460 per 10 grammes respectively on reduced demand with better arrivals. Gold biscuits prices also eased by Rs 100 at Rs 56,300 per piece of 10 tolas on reduced demand.
Sugar: A firm-to-upward trend was seen at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Sugar, both grades, showed an upward trend.
Sugar S-30 grade firmed up to Rs 1415/1430 as against of the previous level of Rs 1410/1435 a quintal on improved demand and moderate arrivals. While sugar M-30 grade improved to Rs 1445/1485 from the previous level of 1440/1480 a quintal on better offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1380/1400 a quintal for S-30 grade and Rs 1425/1455 for the M-30 grade.
Non-ferrous metals: An upward-to-firm trend was noticed in the local non-ferrous market yesterday. Industrial demand remained better as against of limited arrivals. The trade volume remained small.
In virgin section, zinc slabs, tin slabs and nickel cathodes improved by Re 1 each to Rs 79.50, Rs 312 and Rs 368 a kg respectively on improved industrial demand coupled with restricted arrivals. While, copper wirebar and aluminium ingots firmed up by 50 paise each to Rs 136 and Rs 75.75 a kg respectively, on better industrial offtake. Meanwhile, lead ingots ruled overall steady and nominally quoted at Rs 41.50 a kg on narrow movements.
In scraps section, brass sheetcuttings looked up by 75 paise, while copper heavy scraps, copper utensils and brass utensils firmed up by 50 paise each to Rs 122.50, Rs 110.50 and Rs 93.75 a kg respectively on improved demand. Aluminium utensils firmed up by 25 paise at Rs 59.25 a kg on better demand.
