A further fall in castorseeds futures prices, marked trading on the oils and oilseeds market yesterday. The spot section, generally showed a steady trend.
The September contract opened lower at Rs 1132.00 from the weekend finish of Rs 1135.00 and declined further at the close to settle at Rs 1130.00 on stockists selling pressure. In the spot edible section, groundnut oil prices eased marginally, while palm oil was mildly higher.
Groundnut oil eased to close at Rs 355 from the last mark of Rs 356, while groundnut bold, held steady at Rs 1880 on stray support. Palm oil, however, edged up to finish at Rs 267 against the previous close of Rs 266 on increased arrival.
In the industrial section, castor oil commercial at Rs 248 and castorseed madras at Rs 1094, held steady on some support. Linseed oil and linseed bold also showed no change from the last level of Rs 280 and Rs 1300 respectively.
Sugar: Sugar prices were weak as consumer demand remained slow and prices slid in limited activity on Monday, dealers said.
In the ready delivery sugar, S-30 slid by Rs 10 at Rs 1,450/1,470 per quintal while sugar M-30 fell by Rs 3 at Rs 1,475/1,505 per quintal. Volume was poor as major players kept to the sidelines awaiting the announcement of the free sale quota for July by the government. Meanwhile, sugar mill delivery looked up on limited offerings by millers as they expect the government to announce a lower free sale quota. In the mill delivery, sugar S-30 rose by Rs 10/15 at Rs 1,395/1,410 per quintal while sugar M-30 climbed up by Rs 15 at Rs 1,420/1,440 per quintal. Free sale quota for the month is 8,00,000 tonnes, and millers expect a quota of about 7,25,000/7,50,000 tonnes for July.
Non-ferrous metals: Copper prices lost gained ground on Monday but other base metals were ranged, dealers said. Copper moved down by Rs 50 at Rs 13,875 per quintal on demand resistance by industrial consumers while a setback in the world market prompted profit-taking. Copper was up Rs 25 last week.
Tin was steady at Rs 30,200 a quintal after losing Rs 700 last week with nickel steady at Rs 35,400 per quintal after losing Rs 800 per quintal last week.
Zinc was indicated at the previous level of Rs 8,100 per quintal as was lead at Rs 4,100 and aluminium at Rs 7,700 per quintal in nominal activity. Zinc was up by Rs 50 per quintal last week.
In scraps section, the metals were quoted as follows: Copper scrap heavy Rs 128.25, copper utensils Rs 116, brass scrap Rs 97, brass sheet cutting Rs 102 and aluminium utensils scrap Rs 60 per kg respectively.
Bullion: Gold continued to fall on the bullion market yesterday as weak overseas advises dampened the sentiment and the yellow metal touched another record low of Rs 4600 against the previous low of Rs 4605 recorded last Saturday. Silver also declined on poor industrial offtake.
22-carat gold was also nominally quoted weak at Rs 4255 against the previous close of Rs 4260. 10-tola gold bar of .999 purity finished Rs 50 lower at Rs 53,800.
Silver ready of .999 purity declined by Rs 25 to close at Rs 6735 from Rs 6760. Raw silver of .916 fineness ended weak at Rs 6635 against the last close of Rs 6660, while tenderable silver lost Rs 10 to settle at Rs 6740 from Rs 6765.
