G'Nut Oil Tumbles, Sugar Steady, Bullion Glitters

Groundnut oil fell further by Rs 13 at Rs 575 per 10 kg on sluggish consumer demand against subdued arrivals at the wholesale oil and oilseeds market here yesterday.

In other oils, castor oil Commercial and BSS qualities continued to shoot up by Rs 12 each to Rs 517 and Rs 529 per 10 kg, respectively. Linseed oil and mowra oil firmed up by Rs 5 each to Rs 445 and Rs 345 per 10 kg, respectively. Copra oil white and kardi oil declined by Rs 15 and Rs 5 to Rs 420 and Rs 625 per 10 kg on weak industrial demand coupled with easy supply of stock. Imported palmolein eased further by Rs 2 at Rs 372 per 10 kg.

In futures, December contract opened Rs 28 higher at Rs 1,895 a quintal and firmed up to Rs 1,898. It dropped to Rs 1,895 before closing to Rs 1,898 a quintal on speculative movements.

Castorseeds Madras and Maharashtra qualities advanced further by Rs 58 each to Rs 2,386 and Rs 2,380 a quintal, respectively.

Sugar: An easy-to-subdued state prevailed in prices at the wholesale sugar market here yesterday. Both grades ruled subdued-to-steady.

S-30 ruled easy to Rs 1,410-1,450 a quintal from the previous level of Rs 1,420-1,445 on sluggish consumer demand against easy supplies. M-30 ruled marginally firm at Rs 1,435-1,510 a quintal against the previous level of Rs 1,445-1,510 on sluggish offtake.

Non-ferrous metals: Mixed conditions were noticed in the local non-ferrous metals market yesterday. Most of the metals ruled easy-to-steady. In the scraps section, copper heavy scraps and brass utensils improved by Re 1 each to Rs 107 and Rs 86.50 a kg, respectively. Copper utensils and brass sheetcuttings advanced further by 50 paise and 75 paise to Rs 93.50 and Rs 88.75 a kg respectively. Meanwhile, aluminium utensils ruled overall steady and were nominally quoted at Rs 63 00 a kg on narrow movements.

In virgin metals, copper wirebar and zinc slabs looked by 50 paise at Rs 120.50 on better industrial demand coupled with restricted supplies. Other metals were nominally quoted as under : aluminium ingots Rs 85.50, zinc slabs Rs 78.00, lead ingots Rs 45.00, tin slabs Rs 373 and nickel cathodes Rs 249 per kg, respectively. Bullion : An upward trend was noticed in both the precious metals at the local bullion market yesterday.

Silver .999 and .916 improved by Rs 115 each to Rs 7,390 and Rs 7,285 a kg, respectively on firm overseas advices. The festive demand remained good. Standard gold and 22 carat gold firmed up by Rs 60 and Rs 55 to Rs 4,130 and Rs 3,820 per 10 grams on firm overseas advices. Gold biscuit tags also advanced by Rs 700 at Rs 48,400 per piece of biscuit on better consumer offtake.