G'Nut Oil Eases, Bullion Weak, Sugar Stays Calm

Groundnut oil eased from higher levels yesterday on sluggish demand. The supply line is almost dry which has been resulted in paucity of ready stock.

Castorseeds June contract remained untraded while September contract opened lower and eased further towards closing. Groundnut oil fell by Re 1 at Rs 463 per 10 kg. Though the short-supply position has remained as it is.

Linseed oil and rapeseed oil refined moved up by Rs 10 and Rs 7 to Rs 430 and Rs 415 per 10 kg. Copra oil white and rice bran oil declined by Rs 10 and Rs 2 to Rs 455 and Rs .233 per 10 kg. respectively. Soya oil refined firmed up by Rs 3 to Rs 415 per 10 kg.

Castor oil commercial and BSS qualities looked up by Rs 2 each to Rs 306 and Rs 318 per 10 kg respectively on better industrial demand. Imported palmolein firmed up by Re 1 at Rs 383 per 10 kg on better industrial demand and modest arrivals.

Castorseeds September contract opened Re 1 lower at Rs 1399.50 a quintal and closed at Rs 1397.50 a quintal. Castorseeds Maharashtra and Madras advanced by Rs 10 each to Rs 1373 and Rs 1367 a quintal respectively on reduced industrial demand.

Sugar: A subdued to steady trend witnessed in sugar prices at the wholesale sugar market, here yesterday. Both grades ruled subdued. S-30 eased to Rs 1450/1460 a quintal from the previous level of Rs 1445/1470 on subdued demand coupled with easy arrivals. M-30 weakened to at Rs 1462/1520 as against the previous level of Rs 1470/1505 a quintal on subdued consumer offtake against modest availability of ready stock.

Non-ferrous Metals: Tin firmed up further, copper eased while all the other metals ruled overall steady in the local non-ferrous metals market yesterday.

Copper heavy scraps eased by 50 paise at Rs 118 a kg on reduced offtake against better stock position.

Other metals ruled overall steady and were nominally quoted as under : copper utensils Rs 114.50, brass utensils Rs 90.50, brass sheetcuttings Rs 94.00 and aluminium utensils Rs 64 a kg respectively.

Tin slabs improved further by Rs 4 at Rs 376 a kg on improved industrial demand coupled with firm overseas advices. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : aluminium Rs 82.50, zinc slabs Rs 81.25, lead ingots Rs 43.25, and nickel cathodes Rs 299 a kg respectively.

Bullion : A weak trend was noticed in the local bullion market yesterday. Both precious metals ruled weak. Silver .999 declined by Rs 175 and Rs 155 to Rs 7675 and Rs 7545 a kg respectively.

Both the precious metals- standard gold and 22 carat gold eased further by Rs 60 and Rs 55 to Rs 4,165 and Rs 3,855 per 10 grams respectively. Gold biscuit prices declined by Rs 800 at Rs 49,000 per piece of gold bar on dull movements.