Silver Declines By Rs 100; G'Nut Oil, Sugar Move Up

While a firm-to-upward trend was noticed in groundnut oil at improved levels, most other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm.

Groundnut oil firmed up by Rs 2 at Rs 595 per 10 kg on marginally improved consumer demand against limited arrivals. There were no arrivals from the producing centres.

In other oils, castor oil commercial and BSS qualities declined further by Rs 5 each to Rs 457 and Rs 469 per 10 kg, respectively. Copra oil white looked up further by Rs 5 at Rs 495 per 10 kg. Sesame oil eased by Rs 5 to Rs 445 per 10 kg. Karanji oil and soya oil refined looked up by Rs 2 each to Rs 232 and Rs 393 per 10 kg, respectively. Imported palmolein firmed up further by Rs 3 at Rs 392 per 10 kg on dull supplies against better demand.

In the futures section, the December contract opened Rs 5 lower at Rs 1,784 a quintal, declined to Rs 1762 before closing at Rs 1763 on speculative movements. Sugar: A marginally improved condition was witnessed in prices yesterday. However, the undertone of the market was weak.

Sugar S-30 grade firmed up to Rs 1407/1440 a quintal from the previous level of Rs 1403/1430. Similarly, sugar M-30 looked up to Rs 1431/1500 a quintal against its previous level of Rs 1430/1490. Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1391/1404 a quintal for the S-30 grade and Rs 1412/1425 a quintal for the M-30 grade.

Non-ferrous metals: A mixed trend was noticed in the local market yesterday. While the scraps section ruled overall steady, virgin metals ruled firm-to-steady. In virgin metals, tin slabs and nickel cathodes improved by Rs 4 and Rs 5 to Rs 382 and Rs 253 per kg, respectively. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : copper wirebar Rs 117.50, aluminium ingots Rs 86, zinc slabs Rs 79.50 and lead ingots Rs 45.50 a kg, respectively on narrow movements.

In the scraps section, all the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs 104, copper utensils Rs 92.75, brass utensils Rs 85.75, brass sheetcuttings Rs 88 and aluminium utensils Rs 63.50 a kg, respectively.

Bullion: An easy-to-downward trend was noticed in both the precious metals yesterday. In white metals, silver .999 and .916 declined by Rs 100 and Rs 105 to Rs 7450 and Rs 7345 a kg, respectively. In yellow metals, standard gold and 22 carat gold eased by Rs 20 and Rs 25 to Rs 4250 and Rs 3925 per 10 grammes respectively. Gold biscuit price declined by Rs 400 at Rs 49,900 per piece of bar.