Bullion Firm, Sugar Easy, Groundnut Oil Up

A firm to upward trend was witnessed in groundnut oil whereas other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein showed a steady trend on subdued demand as against modest availability. In future section, castorseeds June contract remained untraded, while September contract opened higher and advanced further towards closing.

Groundnut oil improved further by Rs 3 at Rs 363 per 10 kg on improved demand coupled with restricted arrivals from the oil producing centres. Arrivals were put at around 80 tonnes a day.

In other oils, sesamum oil and neem oil declined by Rs 5 each to Rs 300 and Rs 185 per 10 kg respectively on reduced industrial demand and better availability. Sunflower oil eased by Rs 2 to Rs 268 per 10 kg

Cottonseed oil washed and refined qualities weakened by Rs 2 each to Rs 2,730 and Rs 278 per 10 kg respectively on dull industrial demand and good arrivals. Imported palmolein ruled overall steady and was nominally quoted at Rs 270 per 10 kg on subdued demand.

In futures section, castorseeds September contract opened Rs 7 higher at Rs 1,153.50 and firmed up to Rs 1,159.50 a quintal. It declined to Rs 1,153.50 before closing at Rs 1,159 a quintal.

In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1,099 and Rs 1,093 per quintal respectively on better industrial offtake. Nigerseeds Madras quality improved further by Rs 25 to Rs 1,475 a quintal.

Sugar: An easy trend was noticed at the wholesale sugar market yesterday. The upward trend in sugar prices was arrested on account of profit taking at improved level. Prices of both grades of sugar eased. The undertone of the market was not firm.

Sugar S-30 grade eased to Rs 1,430/1,450 as against the previous level of Rs 1,438/1,450 a quintal on profit taking at improved level. Sugar M-30 dipped to Rs 1,470/1,505 as against the previous level of Rs 1,475/1,510 a quintal on subdued offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1,395/1,415 a quintal for S-30 grade and Rs 1,435/1,470 for the M-30 grade.

Non-ferrous Metals: Zinc firmed up on improved demand coupled with better overseas advices.

In virgin section, zinc slabs looked up by 50 paise at Rs 81 a kg on improved industrial demand coupled with dull arrivals. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: copper wirebars, Rs 137.50, aluminium ingots, Rs 77, lead ingots, Rs 41, tin slabs, Rs 314 and nickel cathodes, Rs 365 a kg respectively on narrow movements.

In scraps section, quiet conditions were noticed. All the metals ruled overall steady and were nominally quoted as under: copper heavy scraps, Rs 126.50, copper utensils, Rs 114.50, brass utensils, Rs 96.75, brass sheetcuttings, Rs 101.75 and aluminium utensils, Rs 60 a kg on narrow movements.

Bullion: A firm-to-upward trend was witnessed in the local bullion market yesterday. Both the precious metals moved up on account of the firm overseas advices. The undertone of the market was weak.In yellow metals, standard gold and 22 carat gold firmed up by Rs 10 each to Rs 4,680 and Rs 4,330 per 10 grammes respectively on better demand against reduced arrivals coupled with firm overseas advices. Gold biscuits prices also improved by Rs 200 at Rs 54,800 per piece of 10 tolas on improved demand.