Bullion Divergent, Sugar Steady, Gnut Oil Firm

Groundnut oil was firm on renewed demand coupled with reduced arrivals while other industrial oils ruled easy-to-steady at the wholesale oil and oilseeds market here yesterday.

Groundnut oil rose by Rs 2 at Rs 374 per 10 kg on better demand and normal arrivals. Arrivals were put at around 85-90 tonnes a day. Kardi and ricebran oil looked up by Rs 2 each to Rs 367 and Rs 172 per 10 kg respectively. Coconut oil white went down by Rs 5 at Rs 540 per 10 kg on reduced industrial offtake coupled with better arrivals.

In futures section, castorseeds contract September contract opened 50 paise lower at Rs 1173.50 and improved to Rs 1181.50 a quintal. It declined and closed at Rs 1173. December contract opened at Rs 1181.25 a quintal and ruled overall steady at the same level throughout the trading session.

In oilseeds, castorseeds Madras and Maharashtra qualities improved further by Rs 5 each to Rs 1200 and Rs 1194 a quintal respectively on improved industrial offtake.

Sugar: A firm-to-steady trend wasnoticed at the wholesale sugar market yesterday. The undertone of the market was not firm.

Sugar S-30 grade firmed up to Rs 1480/1508 as against the previous level of Rs 1477/1508 a quintal on normal consumer offtake while the M-30 grade rose to Rs 1504/1535 as against the previous level of Rs 1501/1535 a quintal on subdued offtake.

Sugar for the check post deliveries were quoted low at Rs 1455/1468 a quintal for S-30 and Rs 1480/1505 for the M-30 grade.

Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous market yesterday. In scraps section, copper heavy scraps and copper utensils eased further by 50 paise each to Rs 123 and Rs 112 a kg respectively. Brass utensils, brass sheetcuttings and aluminium utensils ruled overall steady.

In virgin section, nickel cathodes and copper wirebars declined by Rs 2 and 50 paise to Rs 132 a kg respectively on weak LME advices and reduced demand. All the other metals ruled overall steady.

Bullion: A divergent trend witnessed in the local bullion market yesterday. White metals firmed up while yellow metals ruled easy. The market undertone was hesitant.

In white metals, silver .999 and .916 improved further by Rs 30 each to Rs 6430 and Rs 6330 a kg respectively on firm overseas advices, improved industrial offtake and reduced arrivals. Delhi advices indicated firm trend.

In yellow metals, both standard gold and 22 carat gold eased Rs 15 each to Rs 4515 and Rs 4,175 per 10 grams respectively on subdued demand.