Groundnut oil ruled firm on better demand coupled with moderate arrivals from the upcountry centres yesterday while other industrial oils ruled easy to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai. Imported palmolein eased further on reduced arrivals. In futures section, castorseeds March97 contract remained untraded yesterday while June97 contract opened lower but improved towards closing.
Groundnut oil firmed up by Re 1 at Rs 340 per 10 kg on improved offtake coupled with modest arrivals. Demand remained better. Arrivals were put about 110/120 tonnes a day. In other oils, mowra oil improved by Rs 10 to Rs 270 per 10 kg on better industrial demand coupled with restricted inflows. Neem oil declined by Rs 5 to Rs 185 per 10 kg on dull industrial demand with brisk arrivals. Kardi oil firmed up by Re 1 at Rs 346 per 10 kg while linseed oil eased by Re 1 at 297 per 10 kg on dull demand. Imported palmolein eased by Re.1 at Rs 279 per 10 kg on slack offtake. Other oils ruled overall steady. In futures, castorseeds June97 contract opened Rs 6 lower at Rs 1220 and shot up to Rs 1226 a quintal. It declined to Rs 1220 before closing at Rs.1223 a quintal on speculative shortcoverings.
Sugar: A slightly firm to steady trend witnessed in sugar prices at the wholesale sugar marke. The undertone of the market remained weak. Sugar S-30 grade was quoted at Rs 1278/1313 a quintal as against of the previous level of Rs 1280/1308 a quintal on subdued demand and moderate arrivals. Sugar M-30 grade firmed up to Rs 1320/1375 from the previous level of 1305/1370 a quintal. Sugar for the check post deliveries were quoted easy at Rs. 1250/1265 a quintal for S-30 grade and Rs.1271/1325 for the M-30
Non-ferrous Metals :An easy to steady trend was noticed in the local non-ferrous market. Industrial demand remained slack. The trade volume remained small. In virgin section, nickel cathodes and zinc slabs eased by Re 1 and 75 paise to Rs 371 and Rs 75 a kg respectively on dull demand. Copper wirebar, aluminium ingots, lead ingots and tin slabs ruled overall steady and were quoted at Rs 133.50, Rs 74.00, Rs 45.25 and Rs 315 a kg respectively. In scraps section, all metals like copper heavy scraps, copper utensils, brass utensils, brass sheetcuttings and aluminium utensils ruled steady on narrow movements and were nominally quoted at Rs 120.50, Rs 108.50, Rs 92, Rs 95 and Rs 59 a kg.
Bullion :A dull to downward trend continued in the local bullion market yesterday. Both the precious metals suffered a setback on weak overseas market. Silver .999 and .916 declined by Rs 55 each to Rs 7500 and Rs 7400 a kg on weak advices of London market coupled with reduced demand and improved arrivals. Standard gold and 22 carat gold weakened further by Rs 90 and Rs 85 to Rs 4805 and Rs 4445 per 10 grams respectively on dull consumer demand but mainly due to weak overseas advices. Gold biscuits also declined by Rs 1100 Rs 56,200 per piece of 10 tolas on dull demand.
