Gnut Oil Steady, Bullion Weak, Sugar Subdued

A firm trend was noticed in groundnut oil yesterday on modest arrivals from the producing centres, whereas other industrial oils ruled easy to steady. Imported palmolein ruled steady. In futuressection, castorseeds June contract opened lower and eased further towards the close.

Groundnut oil firmed up by Re at Rs 405 per 10 kg.on better consumer demand at reduced level coupled with restricted arrivals. Arrivals were put at around 95 tonnes a day.

Linseed and sesame oil declined by Rs 5 each to Rs 365 and Rs 400 per 10 kg. Cottonseed oil washed and refined qualities looked up by Rs 2 each to Rs 376 and Rs 378 per 10 kg respectively. Kardi oil and sunflower oil expeller improved by Rs 5 and Rs 3 to Rs 525 and Rs 388 per 10 kg. Imported palmolein ruled overall steady at Rs 371 per 10 kg.

In futures, castorseeds June contract opened Rs 3.50 lower at Rs 1,268 a quintal and ruled steady. It declined to Rs 1,256 before closing at Rs 1,258 a quintal. Oilseeds ruled overall steady.

Sugar: An easy to subdued trend was seen in sugar prices at the sugar market yesterday. Both grades of sugar ruled subdued.

Sugar S-30 grade eased to Rs 1,475/1,495 against the previous level of Rs 1,475/1,510 a quintal. Sugar M-30 softened to Rs 1,500/1,540 as against the previous level of Rs 1,495/1,555 a quintal.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1,455/1,470 a quintal for S-30 grade, while it was Rs 1,480/1,505 a quintal for the M-30 grade.

Non-ferrous Metals: Copper ruled firm whereas all the other metals ruled steady in the local non-ferrous metals market yesterday. The demand remained modest against normal arrivals. The undertone remained hasitant.

In virgin section, copper wirebar firmed up by 50 paise at Rs 122 a kg on better demand against limited availability of stock. The other metals were quoted as : aluminium ingots Rs 82, zinc slabs Rs 73.50, lead ingots Rs 41.25, tin slabs Rs 350 and nickel cathodes Rs 315 a kg.

In scraps, all metals ruled steady and were nominally quoted as under: copper heavy scraps Rs 108.50,copper utensils Rs 95, brass utensils Rs 85.25, brass sheetcuttings Rs 89.25 and aluminium utensils Rs 62 a kg respectively.

Bullion: An easy to downward trend was noticed in the local bullion market yesterday.

In white metals, silver .999 and .916 eased by Rs 15 and Rs 10 to Rs 8,725 and Rs 8,600 a kg on dull overseas advices and easy upcountry arrivals.

In yellow metals, both- standard gold and 22 carat gold softened by Rs 15 and Rs 10 to Rs 4,240 and Rs 3,925 per 10 grammes respectively on dull consumer demand. Gold biscuit prices also declined by Rs 200 at Rs 49,700 per piece of gold bar.