Bullion Moves Up, Sugar Firm, Gnut Oil Dips

Groundnut oil dipped further on reduced demand coupled with improved arrivals, while other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market here yesterday. Imported palmolein eased on poor demand and better arrivals.

Groundnut oil eased further by Rs 3 at Rs 335 per 10 kg on reduced consumer demand coupled with brisk arrivals from the producing centres. Arrivals were put at around 100 tonnes a day.

In other oils, sesame oil and coconut oil white declined by Rs 3 and Rs 5 to Rs 282 and Rs 525 per 10 kg on improved inflows from the producing centres coupled with limited industrial as well as consumer offtake. Rapeseed oil refined and sunflower oil expeller improved by Rs 2 and Rs 5 to Rs 280 and Rs 290 per 10 kg respectively Imported palmolein eased by Rs 3 at Rs 266 per 10 kg

In the futures section, the December contract opened Re 1 lower at Rs 1,161.50 and firmed up to Rs 1,162.50 a quintal. It declined and closed at Rs 1,156.50.

Sugar: Sugar prices further firmed up at the wholesale sugar market here yesterday. Both grades ruled upward on better demand and subdued arrivals. The market undertone was firm.

Sugar S-30 further firmed up to Rs 1,455-1,480 against the previous Rs 1,450-1,465 a quintal on improved consumer demand coupled with limited arrivals. Sugar M-30 improved to Rs 1,485-1,515 a quintal against the previous Rs 1,470-1,508 on better offtake. Sugar for the check-post deliveries were quoted low at Rs 1,430-1,445 a quintal for S-30 and at Rs 1,460-1,490 for M-30.

Non-ferrous metals: In the virgin section, tin slabs and nickel cathodes firmed up further by Re 1 each to Rs 300 and Rs 329 a kg respectively on improved industrial offtake against limited arrivals. All other metals ruled overall steady.Copper wirebar was quoted at Rs 128.5 a kg, aluminium ingots at Rs 78, zinc slabs at Rs 85.25 and lead ingots at Rs 41 a kg respectively A quiet condition was evident in scraps. All metals ruled overall steady. Copper heavy scraps was quoted at Rs 120.50 a kg, copper utensils at Rs 110.50, brass utensils at Rs 97, brass sheetcuttings at Rs 102.25 and aluminium utensils at Rs 60 a kg respectively on narrow movements.

Bullion: An upward trend was evident yesterday on the local bullion market.

In yellow metals, standard gold and .22 carat firmed up by Rs 40 and Rs 35 to Rs 4,450 and Rs 4,115 a kg respectively on firm overseas advices, better demand and modest arrivals. Gold biscuit prices improved by Rs 300 at Rs 52,300 a piece. In white metals, both silver .999 and .916 advanced by Rs 95 each to Rs 6,920 and Rs 6,820 a kg on restricted arrivals coupled with improved industrial demand. Delhi advices too indicated a firm trend.