Bullion Up, Sugar Weak, Groundnut Oil Steady

Groundnut oil ruled overall steady at Rs 345 per 10 kg on subdued demand and normal arrivals. The trading volume was thin. Out-of-state orders indicated an easy trend.

Cottonseed oil washed and refined wound down by Re 1 and Rs 4 to Rs 225 and Rs 232 per 10 kg, respectively, on sluggish industrial orders. Castor oil commercial and BSS qualities looked up by Rs 2 each to Rs 402 and Rs 414 per 10 kg, respectively, on better industrial offtake against normal supplies.

Imported RBD palmolein and soybean oil refined softened further by Rs 4 and Rs 2 to Rs 205 and Rs 230 per 10 kg, respectively, on dull industrial demand and subdued movements.

Castorseeds June-2000 contract opened Rs 5 lower at Rs 1890 a quintal and declined to Rs 1,868 before closing to Rs 1,870 a quintal.

Castor oil international contract April-2000 opened steady at Rs 414 per 10 kg and ruled quiet at the same level yesterday.

Castorseeds looked up by Rs 10 to Rs 1,860 a quintal on reduced supplies and better offtake. Nigerseeds eased by Rs 25 at Rs 2,275 a quintal. Meanwhile, all the other oilseeds ruled overall steady on modest industrial enquiries.

Sugar : A weak trend continued at Turbhe, New Bombay with both the grades of sugar ruling subdued. Small-grade sugar (S-30) declined further to Rs 1,430/1,490 a quintal against its previous level of Rs 1,460/1,510 on improved arrivals from upcountry centres and mills coupled with dull demand. Medium-grade (M-30) weakened further to Rs 1,480-1,565 a quintal against its previous level of Rs 1,500/1,585 on dull offtake against modest availability of ready stock.

Sugar prices for check-post were quoted higher at Rs 1,410/1,430 a quintal for S-30 grade and Rs 1,445/1,510 for the medium grade yesterday.

Non ferros metals: A firm trend witnessed in the non-ferrous metals at the local market yesterday. Scraps metals ruled firm while virgin metals ruled steady. The demand was subdued against normal supply position.

In scraps, copper utensils, brass utensils and brass sheet-cuttings improved by 50 paise each to Rs 100, Rs 90 and Rs 97 a kg, respectively, on improved industrial offtake against restricted availability of ready stock. Meanwhile, all the other metals were quoted as under: copper heavy scraps Rs 117 and aluminium utensils Rs 68.50 a kg.

In virgins, tin slabs and copper wirebar firmed up by Rs 3 and 25 paise to Rs 375 and Rs 122.75 a kg, respectively, on improved industrial offtake coupled with limited availability of ready stock. Meanwhile, all the other metals were quoted as under : aluminium ingots Rs 90.00, zinc slabs Rs 89.50, lead ingots Rs 35 and nickel cathodes Rs 590 a kg.

Bullion : A firm trend continued in precious metals prices at the local bullion market yesterday. Both the precious metals ruled upward.

Silver .999 and .916 improved further by Rs 80 and Rs 70 to Rs 8,000 and Rs 7,870 a kg, respectively.