G'Nut Oil Sheds Rs 10; Metals Divergent

Groundnut oil declined further on changing market sentiment with good rains at the producing centres in Gujarat. The demand, however, remained dull and was facing resistance at the improved level. Most of the other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market.

Groundnut oil fell further by Rs 10 at Rs 588 per 10 kg on sluggish consumer demand and subdued arrivals.

Castor oil commercial and BSS qualities flared up further by Rs 10 each to Rs 505 and Rs 517 per 10 kg respectively. Linseed oil and neem oil eased by Rs 5 each to Rs 440 and Rs 255 per 10 kg respectively.

Copra oil white and sunflower oil expeller improved by Rs 15 and Rs 10 to Rs 475 and Rs 420 per 10 kg respectively. Imported palmolein eased by Re 1 at Rs 374 per 10 kg on easy supplies and subdued demand.

In futures, the December contract opened Rs 8 higher at Rs 1,868 a quintal and firmed up to Rs 1,873. It later declined to Rs 1,866 before closing at Rs 1,868 a quintal on speculative movements.

In oilseeds, castorseeds Madras and Maharashtra qualities advanced further by Rs 48 each to Rs 2,328 and Rs 2,322 a quintal respectively.

Sugar: An easy-to-subdued condition was noticed yesterday. The undertone of the market was weak.

Sugar S-30 grade ruled easy-to-steady at Rs 1,420/1,445 a quintal from the previous level of Rs 1,415/1,460 on sluggish consumer demand against easy supplies. Sugar M-30 ruled marginally firm at Rs 1,445/1,510 a quintal as against the previous level of Rs 1,445/1,490 on sluggish offtake.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1,394/1,415 a quintal for the S-30 grade and Rs 1,415/1,430 a quintal for the M-30 grade. Non-ferrous metals: Mixed conditions were noticed in the local market yesterday. The undertone remained weak.

In the scraps section, brass utensils and brass sheetcuttings advanced further by Rs 1.50 and Re 1 to Rs 85.50 and Rs 88 a kg respectively on thin supplies. Copper utensils scraps looked up by 25 paise at Rs 93 a kg on modest industrial offtake. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as sunder : copper heavy scraps Rs 106 and aluminium utensils Rs 63 a kg respectively.

In virgin metals, copper wirebar and zinc slabs eased by 50 paise and Re 1 to Rs 120 and Rs 78 a kg respectively. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : aluminium ingots Rs 85.50, lead ingots Rs 45, tin slabs Rs 373 and nickel cathodes Rs 249 a kg respectively. Bullion: The Bombay Bullion Association remained officially closed yesterday on account of Gauri immersion.