G'Nut Oil Eases, Bullion Divergent, Metals Dull

An easy-to-steady trend was noticed in groundnut oil. The demand remained dull. Other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled steady.

Groundnut oil eased by Rs 3 to Rs 493 per 10 kg. Arrivals were placed around 85-90 tonne a day.

In other oils, mowra oil and sunflower oil expeller firmed up by Rs 5 each to Rs 385 and Rs 445 per 10 kg. Copra oil white suffered a setback and declined by Rs 5 at Rs 465 per 10 kg. Castor oil commercial and BSS varieties improved by Rs 5 each to Rs 328 and Rs 340 per 10 kg. Imported palmolein ruled steady and was nominally quoted at Rs 377 per 10 kg. Most other oils ruled steady.

In futures market, castorseeds September contract opened Re 1 up at Rs 1,441.50 a quintal and closed at Rs 1,445.50 a quintal.

Castorseeds Madras and Maharashtra qualities looked up Rs 24 each to Rs 1,478 and Rs 1,472 a quintal respectively. Nigerseeds Madras improved by Rs 50 to Rs 2,000 a quintal.

Sugar: An easy-to-subdued trend was witnessed in sugar prices at the wholesale sugar market, Turbhe, Navi Mumbai yesterday. Both the grades of sugar were steady. Undertone was weak.

Sugar S-30 grade ruled overall steady and was quoted at Rs 1,455/1,470 a quintal. The offtake remained dull. Sugar M-30 firmed up marginally to Rs 1,480/1,520 a quintal. Arrivals were subdued.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1,435/1,450 a quintal for S-30 grade and Rs 1,460/1,470 a quintal for the M-30 grade.

Non-ferrous metals: An easy-to-steady trend continued in the local non-ferrous metals market yesterday. Demand was dull. Undertone remained weak.

In virgin section, copper wirebar eased by 50 paise at Rs 131.00 a kg. Other metals ruled steady and were quoted as: aluminium ingots Rs 83, zinc slabs Rs 78, lead ingots Rs 43.50, tin slabs Rs 377 and nickel cathodes Rs 292 a kg.

In scraps section, copper heavy scraps eased by 50 paise, while copper utensils, brass utensils and brass sheetcuttings eased further by 25 paise each to Rs 114.00, Rs 102.75, Rs 88.50, and Rs 92.25 a kg. Meanwhile, aluminium utensils ruled overall steady and were quoted at Rs 64.50 a kg.

Bullion: A divergent trend was noticed in the local bullion market yesterday. Undertone was weak.

In white metals, silver .999 and .916 improved by Rs 25 and Rs 15 to Rs 8,040 and Rs 7,905 a kg.

In yellow metals, both, standard gold and 22 carat gold eased by Rs 10 each to Rs 4,280 and Rs 3,960 per 10 gms. Gold biscuit prices also weakened by Rs 100 at Rs 50,400 per piece of gold bar.