Groundnut Oil Firm, Sugar Eases A Bit, Silver Shines

A steady-to-firm trend was noticed in groundnut oil on paucity of ready stock following limited arrivals from the producing centres. Arrivals from Gujarat have remained low. Meanwhile, other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled steady.

Groundnut oil ruled overall steady and was quoted at Rs 490 per 10 kg.

In other oils, linseed oil and copra oil white declined by Rs 3 and Rs 5 to Rs 445 and Rs 480 per 10 kg, respectively. Soya oil refined and sunflower oil expeller gained Rs 2 and Rs 3 to Rs 407 and Rs 428 per 10 kg. Cottonseed oil washed and refined qualities firmed up by Re 1 to Rs 413 and Rs 415 per 10 kg. Imported palmolein ruled overall steady and were nominally quoted at Rs 377 per 10 kg. Meanwhile, majority of other oils ruled overall steady.

In futures market, castorseeds September contract opened Rs 1.50 lower at Rs 1,427 a quintal and closed at Rs 1,421.50 a quintal.

In oilseeds, castroseeds Madras and Maharashtra qualities declined by Rs 4 each to Rs 1,426 and Rs 1,420 per quintal. Sesame seeds improved by Rs 100 to Rs 2,300 per quintal.

Sugar: An easy-to-downward trend was witnessed in sugar prices. Both the grades of sugar ruled easy. Sugar S-30 grade eased to Rs 1,460/1,485 a quintal. Sugar M-30 weakened to Rs 1,475/1,515 a quintal.

Meanwhile, sugar for the check-post deliveries was quoted lower at Rs 1,440/1,450 a quintal for S-30 grade and Rs 1,465/1,495 a quintal for the M-30 grade.

Non-ferrous metals: A mixed trend was noticed in the local non-ferrous metals market yesterday. The demand was subdued-to-normal for most of the metals.

In the virgin section, tin slabs firmed up by Re 1 to Rs 378 a kg. Copper wirebar and zinc slabs eased further by 50 and 25 paise to Rs 131 and Rs 78.25 a kg. Meanwhile, all the other metals ruled overall steady and were quoted as under: aluminium ingots Rs 83, lead ingots Rs 43.50 and nickel cathodes Rs 296 a kg.

In scraps section, copper heavy scraps declined by 50 paise while copper utensils, brass utensils and brass sheetcuttings eased by 25 paise each to Rs 1,14.50, Rs 102.75, Rs 88.50 and Rs 92.50 a kg. Meanwhile, aluminium utensils were quoted at Rs 64.50 a kg.

Bullion: A mixed trend was noticed in the local bullion market yesterday. Silver ruled firm, while gold ruled overall steady. The undertone remained weak. In white metals, silver .999 and .916 firmed up marginally by Rs 5 each to Rs 7,930 and Rs 7,805 a kg respectively.

In yellow metals, both, standard gold and 22 carat gold ruled overall steady and were quoted at Rs 4,290 and Rs 3,970 per 10 gms. Gold biscuit prices eased by Rs 100 at Rs 50,400 per piece of gold bar.