Bullion Declines, G'Nut Oil Remains Steady

A steady trend was noticed in groundnut oil yesterday on subdued demand coupled with normal inflows from the producing centres.

Groundnut oil was nominally quoted at Rs 442 per 10 kg on steady demand. Arrivals were put at around 90/100 tonne a day.

Mowra oil and rapeseed oil refined improved by Rs five and Rs three to Rs 330 and Rs 398 per 10 kg respectively on paucity of ready stock. Sesame oil and copra oil white declined by Rs five each to Rs 410 and Rs 445 per 10 kg respectively.

Ricebran oil and sunflower oil expeller eased by Rs two and Rs five to Rs 225 and Rs 400 per 10 kg respectively on lower industrial offtake. Castor oil commercial and BSS qualities declined by Rs five each to Rs 305 and Rs 317 per 10 kg respectively. Imported palmolein eased by Rs three at Rs 376 per 10 kg.

In the futures market, castorseeds September contract opened Rs 3.50 lower at Rs 1390.50 a quintal. It later declined and closed at Rs 1387 a quintal on speculative movements.

In oilseeds, castorseeds Maharashtra and Madras declined by Rs 24 each to Rs 1368 and Rs 1362 a quintal.

Sugar: An easy-to-subdued trend was witnessed in the sugar prices at the wholesale sugar market yesterday. Both the grades ruled subdued, and the undertone of the market was weak.

Sugar S-30 grade eased to Rs 1450/1480 a quintal from the previous level of Rs 1455/1475 on reduced demand. Sugar M-30 declined to Rs 1465/1512 as against the previous level of Rs 1475/1515 a quintal. Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1430/1445 a quintal for S-30 grade and Rs 1445/1470 a quintal for the M-30 grade.

Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday.

In the scraps section, copper heavy scraps eased by 50 paise at Rs 117 a kg. Copper utensils firmed up by 50 paise at Rs 102 a kg. The metals were nominally quoted as under : brass utensils Rs 89.50, brass sheetcuttings Rs 93 and aluminium utensils Rs 64 a kg respectively.

In the virgin section, tin slabs declined by Rs three to Rs 368 a kg .Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : copper wirebar Rs 132.50, aluminium ingots Rs 82.50, zinc slabs Rs 81, lead ingots Rs 43 and nickel cathodes Rs 298 a kg respectively.

Bullion: A weak trend was noticed in the local bullion market yesterday. Both the precious metals ruled easy, and the undertone of the market remained weak.

In white metals, silver .999 and .916 declined by Rs 50 and Rs 35 to Rs 7,600 and Rs 7,485 a kg respectively. Delhi advices also indicated a moderate trend.

In yellow metals, both standard gold and 22 carat gold eased by Rs 10 each to Rs 4,160 and Rs 3,850 per 10 grammes respectively on dull overseas advices. Gold biscuit prices held overall steady and were nominally quoted at Rs 48,900 per piece of bar.