Groundnut Oil Hardens, Sugar, Bullion Mixed

Groundnut oil advanced further on improved buying interest, better upcountry advices coupled with modest arrivals, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, here yesterday. Imported palmolein looked up on reduced arrivals. In futures section, castorseeds December contract opened lower but firmed up towards closing.

Groundnut oil improved Rs 5 at Rs 350 per 10 kg on improved demand and reduced arrivals.Kardi and ricebran oil declined by Rs 2 and Rs 5 to Rs 330 and Rs 175 per 10 kg respectively. Copra oil white declined by Rs 15 at Rs 525 per 10 kg on reduced industrial demand and improved arrivals. Imported palmolein ruled overall steady and was nominally quoted at Rs 270 per 10 kg on subdued industrial demand coupled with modest arrivals.

In future section, December contract opened 50 paise lower at Rs 1,154 and firmed up to Rs 1,158.50 a quintal. It declined to Rs 1,154 before closing at Rs 1,158 a quintal on better movements.

Castorseeds Madras and Maharashtra qualities improved by Rs 10 each to Rs 1,186 and Rs 1,180 a quintal respectively.

Sugar: A mixed trend was noticed at the wholesale sugar market.Small grade ruled subdued while medium grade ruled upward.

Sugar S-30 grade ruled at Rs 1,490/1,500 against the previous level of Rs 1,486/1,505 a quintal on modest consumer demand coupled with limited arrivals, while sugar M-30 improved further to Rs 1,511/1,536 against the previous level of Rs 1,501/1,537 a quintal on improved offtake. Sugar for the check-post deliveries were quoted low at Rs 1,468/1,480 a quintal for S-30 and Rs 1,484/1,500 for M-30 grade.

Non-ferrous metals: Virgin metals ruled mixed while scraps metals ruled overall steady in the local non-ferrous market yesterday. In virgin section, tin slabs and aluminium ingots firmed up by Rs 2 and 50 paise to Rs 312 and Rs 81.50 per kg on better industrial offtake against limited arrivals. Zinc slabs eased by 25 paise at Rs 83.75 a kg.

Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: copper wirebars Rs 128.50, lead ingots Rs 41.50 and nickel cathodes Rs 323 a kg respectively on narrow movements.

In scraps all metals ruled quiet and steady and were nominally quoted as : copper heavy scraps Rs 119, copper utenssils Rs 110, brass utensils Rs 96, brass sheetcuttings Rs 102 and aluminium utensils Rs 61 a kg respectively.

Bullion: A mixed trend was noticed in the local bullion market yesterday. Silver advanced while gold ruled steady on subdued demand.

In white metals, silver .999 and .916 advanced by Rs 50 each to Rs 7,315 and Rs 7,215 a kg on firm overaseas advices and improved industrial demand. In yellow metals, standard gold and 22-carat gold remained overall steady and were nominally quoted at Rs 4,490 and Rs 4,155 a kg respectively on subdued overseas advices and normal demand.

The arrivals remained modest. Gold biscuit prices also ruled steady at the previous level of Rs 52,700 a piece of gold bar of 10-tolas.