Groundnut oil witnessed a steady trend while other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market at Turbhe in Navi Mumbai yesterday. Imported palmolein also showed a steady trend on subdued demand. In the futures section, castorseeds June contract remained untraded while September contract opened lower and ruled steady towards closing.
Groundnut oil was nominally quoted at Rs 358 per 10 kg. Arrivals were put at around 80 tonnes a day.
Mowra oil and karanji oil declined by Rs 5 each to Rs 275 and Rs 160 per 10 kg respectively. Rapeseed oil refined and sunflower oil expeller looked up by Rs 2 and Rs 3 to Rs 277 and Rs 273 per 10 kg respectively. Copra oil white improved by Rs 10 to Rs 505 per 10 kg. Imported palmolein ruled overall steady and was quoted at Rs 276 per 10 kg.
In the futures section, castorseeds September contract opened Rs 1.50 lower at Rs 1141.50 and firmed up to Rs 1144. It declined to Rs 1139 before closing at Rs 1141 a quintal.
In oilseeds, nigerseeds-Madras firmed up by Rs 14 at Rs 1425 a quintal.
Sugar: A firm-to-upward trend was noticed at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Prices of both the grades of sugar moved up on buying interest.
Sugar S-30 grade firmed to Rs 1420/1460 against the previous level of Rs 1418/1455 a quintal on better demand and moderate arrivals. Sugar M-30 rose to Rs. 1465/1495 against the previous level of Rs 1455/1490 a quintal. Meanwhile, sugar for the check post deliveries were quoted at Rs 1380/1400 a quintal for S-30 and Rs 1430/1450 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 moderate against subdued arrivals.
Hindustan Copper Ltd and Hindustan Zinc Ltd, have increased their prices of copper and zinc by Rs 6 and Re one per kg respectively with effect from June 1, 1997. This resulted in upsurge in the market prices.
In scraps section, copper heavy scraps and copper utensils improved by Rs 2 each to Rs 126 and Rs 114.25 a kg respectively. Brass utensils and brass sheetcuttings looked up by Rs 1.25 and Rs 1.75 to Rs 96.50 and Rs 101.50 a kg respectively on better industrial demand. Aluminium utensils ruled overall steady and were nominally quoted at Rs 60.00 a kg.
In virgin section, copper wirebars and zinc slabs hardened by Rs 1.50 and Re one to Rs 137.50 and Rs 81 a kg respectively. Lead ingots eased by 50 paise at Rs 41 a kg on weak demand. Meanwhile, other metals like aluminium ingots, tin slabs and nickel cathodes ruled steady and were nominally quoted as: Rs 77, Rs 312 and Rs 366 a kg respectively.
Bullion: An easy-to-downward trend was witnessed in the local bullion market. Both the precious metals ruled weak. The undertone of the market was dull.
In white metals, silver.999 and .916 declined by Rs 10 each to Rs 6830 and Rs 6730 per kg respectively on dull offtake and weak overseas advices. In yellow metals, standard gold and 22-carat gold declined by Rs 15 and Rs 10 to Rs 4755 and Rs 4400 per 10 gram respectively. Gold biscuit prices dipped by Rs 150 at Rs 55,650 per piece of 10 tolas.
