Gnut Oil Steady, Sugar Easy, Bullion Gleams

Groundnut oil yesterday ruled overall steady on subdued demand coupled with modest arrivals. Other industrial oils ruled easy-to-steady. Imported palmolein ruled slightly firm on better demand and limited arrivals.

In the futures section, castorseeds September contract opened lower but looked up towards closing

Groundnut oil was nominally quoted at Rs 361 per 10 kg on subdued demand and modest arrivals from the producing centres. Arrivals were put at around 90 tonnes. Copra oil white dropped further by Rs 5 at Rs 535 per 10 kg on poor industrial demand and restricted arrivals.

Ricebran oil and karanji oil looked up by Rs 3 and Rs 5 to Rs 178 and Rs 150 per 10 kg on better offtake while cottonseed oil refined firmed up by Re 1 to Rs 288 per 10 kg on improved demand and subdued arrivals.

In the futures section, castorseeds September contract opened Rs 5.50 lower at Rs 1,132.50 and firmed up to Rs 1,140 a quintal. It declined to Rs 1,132.50 before closing at Rs 1,138.Dece-mber contract opened steady at Rs 1,170 and advanced to Rs 1,180. It declined to Rs 1,170 before closing at Rs 1,180 a quintal.

Sugar: An easy-to-subdued trend was seen on the wholesale sugar market yesterday. Both grades of sugar ruled subdued.

The market undertone was not firm.Sugar S-30 eased to Rs 1498-1520 against the previous close of Rs 1503-1520 a quintal on dull consumer offtake. Sugar M-30 ruled slightly better at Rs 1515-1548 against the previous level of Rs 1515-1545 a quintal. Sugar for the check-post deliveries were quoted low at Rs 1470-1485 a quintal for S-30 and at Rs 1490-1505 for M-30.

Non-ferrous metals: A steady trend was yesterday witnessed on the local non-ferrous market.

Demand remained dull against better arrivals. In the virgin section, an overall steady condition was noticed. Copper wirebar was quoted at Rs 128.50, aluminium ingots at Rs 78, zinc slabs Rs 85, lead ingots Rs 42, tin slabs Rs 285 and nickel cathodes at Rs 328 a kg respectively on narrow movements. Copper heavy scraps was quoted at Rs 119.50, copper utensils at Rs 109.50, brass utensils Rs 95.50, brass sheetcuttings Rs 100.50 and aluminium utensils at Rs 60 a kg respectively.

Bullion: A firm trend was yesterday noticed on the local bullion market.

In white metals, both silver.999 and .916 ruled overall steady and were nominally quoted at Rs 6550 and Rs 6450 a kg respectively on subdued overseas advices, modest industrial demand and restricted arrivals.In yellow metal, standard gold and .22 carat ruled overall steady and were nominally quoted at Rs 4500 and Rs 4,160 per 10 grammes respectively on subdued demand .London advices showed a quiet trend.

Gold biscuit prices ruled at the previous level of Rs 52,700 per piece of 10 tolas on subdued movements.