Bullion Better, Gnut Oil Eases, Sugar Mixed

Groundnut oil eased on profit booking at higher level while other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. In future section, castorseeds September contract opened higher but firmed up further towards closing.

Groundnut oil eased by Re 1 at Rs 360 per 10 kg on profit taking at improved levels and an eased rainfall condition in Gujarat a major groundnut producing state. Arrivals were put at around 80/85 tonnes a day.

Sesame oil and ricebran oil declined by Rs 5 and Rs 2 to Rs 285 and Rs 162 per 10 kg on sluggish industrial demand and better arrivals. Mowra oil rose Rs 5 at Rs 250 per 10 kg on renewed industrial offtake and sunflower oil expeller eased by Rs 2 to Rs 270 per 10 kg.

In futures, castorseed September contract opened Re 1 up at Rs 1135.50 and firmed up to Rs 1140 a quintal. It declined to Rs 1135.50 before closing at Rs 1139.50.

In oilseeds, castor seeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1114 and Rs 1108 per quintal respectively.

Sugar: A mixed trend continued at the wholesale sugar market in Navi Mumbai. Sugar of small grade ruled subdued while medium grade ruled easy. The overall demand remained subdued on account of the heavy rains

Sugar S-30 grade ruled at Rs 1455/1480 against the previous level of Rs 1455/1500 a quintal. While sugar M-30 ruled at Rs 1485/1528 against the previous level of Rs 1480/1528 a quintal on subdued offtake. Sugar for the check post deliveries were quoted low at Rs 1425/1440 a quintal for S-30 grade and Rs 1450/1475 for the M-30 grade.

Non-ferrous metals : A weak-to-downward trend was noticed following weak overseas advices in the local non-ferrous market. Demand remained dull.

In scraps, copper heavy scraps and brass utensils declined by Rs 1.50 each at Rs 127 and Rs 96.25 a kg, respectively on weak LME advices.

Brass sheet-cuttings and copper utensils eased by 75 and 50 paise to Rs 101.50 and Rs 115.25 a kg respectively. Aluminium utensils eased 50 paise at Rs 59.50 a kg.

In virgin section, copper wirebars declined by Re 1 at Rs 137 a kg on easy demand and dull LME advices. Tin slabs and nickel cathodes declined by Rs 4 and Rs 2 to Rs 292 and Rs 341 a kg respectively. Zinc slabs and lead ingots eased 50 paise and 25 paise at Rs 81 and Rs 41 a kg respectively on dull upcountry advices. Aluminium ingots was nominally quoted at Rs 77 a kg.

Bullion: Both the precious metals showed an improvement in the local bullion market yesterday. This followed an improvement in the London market on account of the reduced selling pressure in the overseas market. The undertone of the market was but hesitant.

In yellow metals, standard gold and 22 carat gold recovered by Rs 10 each to Rs 4340 and Rs 4,015 per 10 grams respectively on improved London advices. Gold biscuits prices also firmed up by Rs 150 at Rs 50,800 per piece of 10 tolas.

In white metals, silver.999 and .916 recovered by Rs 20 each to Rs 6150 and Rs 6050 a kg respectively on the better overseas advices only. Delhi advices indicated a subdued trend.