Bullion Edges Up; Sugar, Groundnut Oil Firm

A firm-to-upward trend was noticed in groundnut oil on better offtake whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday.

Groundnut oil firmed up further by Rs four at Rs 365 per 10 kg on better consumer demand coupled with modest arrivals from the producing centres.

In other oils, linseed oil lost Rs three to Rs 322 per 10 kg on reduced offtake. Copra oil white and sunflower oil expeller went up by Rs five and Rs two to Rs 490 and Rs 355 per 10 kg. Castor oil - commercial and BSS quality- eased by Rs 4 each to Rs 268 and Rs 280 per 10 kg respectively.

Imported palmolein firmed up by Rs three at Rs 321 per 10 kg on restricted availability.

In futures section, the June contract opened Rs 3.50 lower at Rs 1244 a quintal, declined to Rs 1236.50 before closing to Rs 1237 a quintal on speculative movements.

In oilseeds, castorseeds - Madras and Maharashtra qualities - declined by Rs 30 each to Rs 1190 and Rs 1184 a quintal respectively.

Sugar: A steady-to-firm trend was noticed in sugar prices on improved consumer offtake coupled with modest arrivals at Turbhe, Navi Mumbai, yesterday.

Sugar S-30 grade firmed up further to Rs 1451/1480 from the previous level of Rs 1450/1480 a quintal. Sugar M-30 grade edged up further to Rs 1480/1529 as against the previous level of Rs 1475/1520 a quintal on improved local demand coupled with normal arrivals.

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

In the scraps section, copper utensils, brass utensils and brass sheetcuttings eased by 25 paise each to Rs 93.00, Rs 82.50 and Rs 87 a kg respectively on easy availability. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : copper heavy scraps Rs 104.50 and aluminium utensils Rs 62 a kg respectively.

In virgin metals, all the metals ruled overall steady, and were nominally quoted as under : copper wirebar Rs 114, aluminium ingots Rs 82, zinc slabs Rs 70, lead ingots Rs 40, tin slabs Rs 345 and nickel cathodes Rs 310 a kg respectively.

Bullion: An upward-to-firm trend was witnessed in the local bullion market yesterday.

In white metals, silver .999 and .916 improved further by Rs 210 and Rs 180 to Rs 8900 and Rs 8,750 a kg respectively.

In yellow metals, both standard gold and 22 carat gold edged up by Rs 60 each to Rs 4050 and Rs 3750 per 10 grammes respectively on better consumer interests. Gold biscuit prices flared up by Rs 700 to Rs 47,5700 per piece of gold bar.