Bullion Weak, Groundnut Oil Easy, Sugar Firms Up

Groundnut oil ruled easy on modest demand coupled with restricted arrivals, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Imported palmolein ruled firm on good demand as against reduced arrivals. Groundnut oil eased by Re 1 at Rs 377 per 10 kg on subdued demand and modest arrivals from the producing centres. Arrivals were put at around 85 tonnes a day.

Copra oil white dropped by Rs 10 at Rs 545 per 10 kg.In future section, castorseeds September contract opened Re 1 lower at Rs 1,160 and improved to Rs 1,162 a quintal. It declined to Rs 1,153.50 before closing at Rs 1,158.50. December contract opened at Rs 1,172 a quintal and ruled overall steady at the same level throughout the trading session. In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1,205 and and Rs 1,199 a quintal respectively .

Sugar:SugarS-30 grade improved further to Rs 1,485/1,515 as against the previous level of Rs 1,485/1,510 a quintal on better consumer offtake, while sugar M-30 advanced further to Rs 1,511/1,550 as against the previous level of Rs 1,503/1,537 a quintal on subdued offtake. Meanwhile, sugar for the check post deliveries were quoted low at Rs 1,460/1,470 a quintal for S-30 grade and Rs 1,480/1,495 for the M-30 grade.

Non-ferrous Metals: Demand remained dull as against better arrivals. All the metals ruled overall steady and were nominally quoted as under: copper heavy scraps, Rs 123, copper utensils, Rs 112, brass utensils, Rs 96.50, brass sheetcuttings, Rs 101.50 and aluminium utensils, Rs 60 a kg respectively on narrow movements.In virgin section, all the metals were nominally quoted as under: copper wirebars, Rs 132, aluminium ingots, Rs 78, zinc slabs, Rs 84, lead ingots, Rs 42, tin slabs, Rs 292 and nickel cathodes, Rs 341 a kg respectively.

Bullion: Both the precious metals ruled weak. In white metals, silver.999 and .916 declined by Rs 15 each to Rs 6,310 and Rs 6,210 a kg respectively on weak overseas advices, reduced industrial demand and better arrivals.

In yellow metals, both standard gold and 22 carat gold eased by Rs 15 each to Rs 4,465 and Rs 4,130 per 10 grammes respectively on dull demand coupled with better arrivals. Gold biscuits prices also weakened further by Rs 200 at Rs 52,200 per piece of 10 tolas on subdued movements.