Groundnut Oil Up, Sugar Easy, Bullion Divergent

Groundnut oil improved on better consumer offtake whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market yesterday. Imported palmolein ruled steady on subdued demand against modest arrivals.

Groundnut oil improved by Rs 4 at Rs 373 per 10 kg on firm demand at reduced level coupled with restricted arrivals. Arrivals were put at around 80/90 tonnes a day. Kardi oil and sesame oil looked up by Rs 5 each to Rs 365 and Rs 295 per 10 kg. Copra oil white improved by Rs 15 to Rs 555 per 10 kg on improved industrial offtake. Rapeseed oil refined was up by Rs 2 at Rs 284 per 10 kg.

In futures, castorseed September contract opened 50 paise up at Rs 1148.50 and firmed up to Rs 1150.50 a quintal. It declined to Rs 1147 before closing at Rs 1149 on shortcoverings. Castorseeds Madras and Maharashtra qualities improved further by Rs 5 each to Rs 1162 and Rs 1156 a quintal respectively on better industrial demand.

Sugar: An easy-to-steady trend was noticed at the wholesale sugar market yesterday. Both the grades of sugar ruled slightly easy.

Sugar S-30 grade eased to Rs 1465/1500 as against the previous level of Rs 1468/1500 a quintal on easy demand coupled with improved availability. Sugar M-30 ruled softened to Rs 1490/1525 as against of the previous level of Rs 1490/1535 a quintal. Sugar for the check post deliveries were quoted low at Rs 1435/1450 a quintal for S-30 grade and Rs 1465/1490 for the M-30 grade.

Non-ferrous metals: Copper and brass firmed up on renewed demand while tin and nickel prices ruled easy.

In the virgin section, tin slabs and nickel cathodes declined by Rs 2 each to Rs 285 and Rs 334 a kg respectively. Copper wirebars firmed up by 25 paise at Rs 135.25 a kg. Other metals like aluminium ingots, zinc slabs and lead ingots were nominally quoted at Rs 77, Rs 82.50 and Rs 41.50 a kg respectively.

In scraps, copper heavy scraps, copper utensils and brass utensils firmed up to Rs 125.50, Rs 114.25 and Rs 96 a kg respectively. Other metals like brass sheetcuttings and aluminium utensils ruled steady and were nominally quoted as : brass sheet cuttings Rs 101 and aluminium utensils Rs 59.50 a kg respectively

Bullion: A divergent trend was noticed in the local bullion market yesterday The undertone of the market was hesitant.

Standard gold and 22 carat gold declined by Rs 30 and Rs 25 to Rs 4550 and Rs 4,210 per 10 grammes respectively on reduced demand coupled with improved arrivals and the weak London advices. Gold biscuits prices also lost Rs 400 at Rs 53,200 per piece of 10 tolas.

Silver .999 and .916 firmed up by Rs 15 and Rs 20 to Rs 6250 and Rs 6150 a kg respectively.