Groundnut Oil Easy, Sugar Subdued, Bullion Gains

Groundnut oil witnessed an easy trend, while other industrial oils ruled easy-to-steady at the Turbhe wholesale oils and oilseeds market yesterday. Imported palmolein also showed a steady trend on subdued demand. In future section, castorseeds June contract remained untraded while September contract opened lower but improved towards closing.

Groundnut oil declined by Rs 3 at Rs 357 per 10 kg on dull demand coupled with better arrivals. Arrivals were put at around 90 tonnes per day.

In other oils, sesame oil and copra oil white dipped by Rs 5 each to Rs 320 and Rs 500 per 10 kg respectively on reduced industrial offtake followed by brisk arrivals. Karanji oil and sunflower oil expeller looked up by Rs 3 each to Rs 165 and Rs 273 per 10 kg respectively

Soya oil refined declined by Rs 2 to Rs 294 per 10 kg on reduced demand coupled with modest inflows. Imported palmolein ruled overall steady and nominally quoted at Rs 277 per 10 kg on subdued demand.

In futures section, castorseeds September contract opened Rs 3.50 lower at Rs 1,137.50 and firmed up to Rs 1,146 a quintal. It declined to Rs 1,137.50 before closing at Rs 1,145.50 a quintal.

In oilseeds, groundnut karad bold and Saurashtra bold eased by Rs 10 each to Rs 1,870 and Rs 1,880 a quintal respectively on dull demand. Nigerseeds Madras eased by Rs 4 at Rs 1,411 a quintal.

Sugar: A subdued-to-steady trend was noticed at the Turbhe wholesale sugar market yesterday. The prices of both the grades of sugar ruled subdued on lack of buying interest. The undertone of the market was not firm.

Sugar S-30 grade ruled at Rs 1,415/1,455 as against the previous level of Rs 1,418/1,440 a quintal on subdued demand and moderate arrivals, while sugar M-30 grade traded at Rs 1,460/1,490 against the previous level of Rs 1,460/1,495 a quintal on subdued offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1,372/1,400 a quintal for S-30 grade and Rs 1,415/1,450 for the M-30 grade.

Non-ferrous metals: A steady-to-easy trend was noticed at the local non-ferrous market yesterday. Industrial demand remained subdued as against moderate arrivals.

In virgin section, nickel cathodes declined by Rs 2 at Rs 368 per kg on dull industrial demand coupled with improved arrivals. Meanwhile, all the metals ruled overall steady and were nominally quoted as under: copper wirebar Rs 136, aluminium ingots Rs 76.50, zinc slabs Rs 80.00, lead ingots Rs 41.50 and tin slabs Rs 314 a kg respectively

An easy trend was noticed in the scraps section. All the metals prices ruled overall steady and were nominally quoted as under: copper heavy scraps Rs 123.50, copper utensils Rs 112, brass utensils Rs 95, brass sheetcuttings Rs 99.50 and aluminium utensils Rs 59.50 a kg respectively Bullion: A firm to upward trend was witnessed at the local bullion market yesterday. Both the precious metals ruled in upward direction. In white metals, silver.999 and .916 improved by Rs 55 to Rs 6,930 and Rs 6830 a kg respectively on improved industrial offtake coupled with firm overseas advices. Delhi advices also indicated a firm trend.

In yellow metals, standard gold and 22-carat gold looked up by Rs 5 each to Rs 4,780 and Rs 4,420 per 10 grammes respectively on better buying interest Gold biscuit prices also improved by Rs 100 at Rs 55,900 per 10-toals on improved demand.