G'Nut Oil Eases, Bullion Firm, Sugar Divergent

Groundnut oil reacted at higher levels and eased marginally yesterday. The edible oils scarcity continued with arrivals remaining inadequate. Imported palmolein ruled firm. In the futures section, castorseeds June contract remained untraded while the September contract firmed up further towards the close.

Groundnut oil eased by Re 1 at Rs 481 per 10 kg. Arrivals were put at around 80 to 85 tonnes a day. Rapeseed oil refined improved by Rs 5 and Rs 4 to Rs 455 and Rs 424 per 10 kg. Sesame and copra oil white rose by Rs 10 each to Rs 440 and Rs 485 per 10 kg. Cottonseed oil washed and refined qualities looked up by Rs 2 each to Rs 415 and Rs 417 per 10 kg.

Karanji oil softened by Rs 3 at Rs 192 per 10 kg on reduced industrial demand. Castor oil commercial and BSS qualities firmed up further by Re 1 each to Rs 311 and Rs 323 per 10 kg. Imported palmolein advanced further by Rs 5 at Rs 410 per 10 kg.

Castorseeds September contract opened Rs 5 higher at Rs 1,419 a quintal and firmed up to Rs 1,421, declining to Rs 1,418.50 before closing at Rs 1,419.50 a quintal. Castorseeds Mahara-shtra and Madras improved by Rs 5 each to Rs 1,397 and Rs 1,391 a quintal. Linseeds improved Rs 50 to Rs 1,500 a quintal.

Sugar: A divergent trend was seen at the wholesale sugar market in Mumbai. Small grade S-30 grade firmed up to Rs 1,460 to 1,480 a quintal as against of the previous level of Rs 1,455 and 1,466 on better demand coupled with normal arrivals. Sugar M-30 was subdued at Rs 1,470 and 1,505 a quintal against the previous level of Rs 1,472 and 1,500 on dull offtake. Sugar for the check-post deliveries were quoted lower at Rs 1,440 and 1,450 a quintal for S-30 grade and Rs 1,456 to 1,475 a quintal for the M-30 grade.

Non-ferrous metals: Tin and nickel prices ruled firm while other metals ruled easy to subdued in the non-ferrous metals market. The demand was steady.

In scraps section, copper heavy scraps declined by 50 paise, while copper utensils, brass utensils and brass sheetcuttings eased further by 25 paise each to Rs 116, Rs 103.50, Rs 89.25 and Rs 93.00 a kg. Meanwhile, aluminium utensils ruled overall steady and were nominally quoted at Rs 64 a kg.

In the virgin section, tin slabs and nickel cathodes improved by Rs 3 and Rs 2 to Rs 383 and Rs 296 a kg. Other metals were nominally quoted as under: copper wirebar Rs 131.50, aluminium Rs 82.50, zinc slabs Rs 79 and lead ingots Rs 43 a kg.

Bullion: A firm to upward trend prevailed on the local bullion market. Both the precious metals ruled marginally firm. The market undertone remained weak.

In white metals, silver .999 and .916 improved by Rs 45 and Rs 20 to Rs 7,760 and Rs 7,610 a kg on firm overseas advices coupled with better industrial demand and subdued arrivals. Delhi advices also indicated a moderate trend.

In yellow metals, standard gold and 22 carat gold looked up by Rs 40 and Rs 35 to Rs 4,200 and Rs 3,885 per 10 grams. Gold biscuit prices improved by Rs 500 at Rs 49,300 per piece of gold bar.