Bullion Firm, Sugar Weak, Gnut Oil On Slippery Trail

A weak to downward trend continued in groundnut oil on dull demand coupled with modest arrivals, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein also ruled easy on subdued demand against modest arrivals.

Groundnut oil fell further by Rs 5 50 at Rs 350.50 per 10 kg on reduced demand and brisk arrivals from the producing centres. Arrivals were put at around 100/120 tonnes a day. In other oils, kardi and mowra oil declined by Rs 3 and Rs 5 to Rs 352 and Rs 225 per 10 kg. respectively on reduced industrial demand, while sesame oil and neem oil improved by Rs 5 and Rs 3 to Rs 290 and Rs 165 per 10 kg on improved industrial demand. In futures section, December contract opened 50 paise lower at Rs 1168.50 and remained at the same level. It declined to Rs 1163 before closing at Rs 1165 a quintal.

Castor seeds Madras and Maharashtra qualities declined by Rs 5 each to Rs 1190 and Rs 1184 per quintal on reduced industrial demand and better arrivals.

Sugar: An easy-to-downward trend was noticed at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both grades ruled weak. The undertone of the market was not firm.

S-30 grade rose to Rs 1505/1527 as against the previous level of Rs 1512/1532 a quintal on reduced consumer offtake coupled with brisk arrivals, while M-30 softened to Rs 1528/1559 as against the previous level of Rs 1535/1560 a quintal on dull offtake.

Non-ferrous Metals : Firm to steady conditions continued in the local non-ferrous market yesterday. The demand remained better as against modest arrivals. The undertone of the market was hesitant.

In the scraps section, copper heavy scraps and brass sheetcuttings improved by 50 paise each at Rs 119.75 a kg. respectively on improved industrial demand while copper utensils and brass utensils firmed up by 25 paise each to Rs 109.50 and Rs 96 a kg respectively on brisker industrial demand.. In the virgin section, copper wirebars looked up by Re 1 at Rs 128.50 a kg.on renewed demand coupled with limited arrivals.

Bullion: A firm trend was noticed in the local bullion market yesterday. Both the precious metals ruled firm. The undertone of the market was hesitant.

Standard gold and 22 carat gold firmed up by Rs 5 each to Rs 4475 and Rs 4,140 per 10 grammes respectively on improved demand coupled with modest arrivals. London advices also showed a firm trend. Gold biscuits prices improved by Rs 100 at Rs 52,500 per piece of 10 tolas on subdued movements. Silver.999 and .916 moved up by Rs 10 each to Rs 6890 and Rs 6790 a kg.on improved industrial demand.