Groundnut Oil Firms Up, Bullion Rules Dull

A firm to upward trend was witnessed in groundnut oil on better offtake whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market here yesterday.

Groundnut oil advanced further by Rs 5 at Rs 370 per 10 kg on better consumer demand. Arrivals were put at around 85/90 tonnes a day.

In other oils, linseed oil and sunflower oil expeller declined by Rs 2 each to Rs 320 and Rs 353 per 10 kg respectively on reduced offtake. Kardi oil went up by Rs 5 to Rs 365 per 10 kg on better industrial demand and restricted arrivals from the producing centres.

Imported palmolein declined by Rs 3 at Rs 318 per 10 kg on improved availability.

In the futures section, June contract opened Re 1 up at Rs 1238 and firmed up to Rs 1244 a quintal. It declined to Rs 1238 before closing to Rs 1242 a quintal on speculative movements.

In oilseeds, all the oilseeds ruled overall steady on narrow movements.

Non-ferrous Metals :A firm to upward trend was noticed in the local non-ferrous metals market yesterday. The demand remained better against normal arrivals. The undertone remained hesitant.

In the scraps section, copper heavy scraps firmed up by 50 paise, while copper utensils, brass utensils and brass sheetcuttings looked up by 25 paise each to Rs 105, Rs 93.25, Rs 82.75 and Rs 87.25 a kg respectively on limited availability coupled with better demand.

Meanwhile aluminium utensils ruled overall steady at Rs 62 a kg.on narrow movements.

In virgin metals, copper wirebar edged up by 50 paise at Rs 114.50 a kg on improved industrial offtake.

Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : aluminium ingots Rs 82, zinc slabs Rs 70.00, lead ingots Rs 40, tin slabs Rs 345 and nickel cathodes Rs 310 a kg. respectively on narrow movements.

Bullion : A weak-to-downward trend was witnessed in the local bullion market yesterday. Both precious metals ruled dull on weak overseas advices coupled with easy arrivals.

Silver .999 and .916 declined by Rs 15 and Rs 20 to Rs 8,885 and Rs 8,730 a kg respectively. The industrial demand remained modest. Delhi advices also indicated a modest trend.

Both standard gold and 22 carat gold eased by Rs 30 each to Rs 4030 and Rs 3730 per 10 grammes respectively on poor consumer interest. Gold biscuit prices also declined by Rs 200 at Rs 47,300 per piece of gold bar on subdued offtake.

Sugar : The Sugar Merchants' Association, at Turbhe, Navi Mumbai, remained officially closed yesterday on account of a sudden death of a member of the association.