Sugar Firm, Groundnut Oil Steady, Bullion Easy

A steady trend was witnessed in groundnut oil, whereas other industrial oils ruled easy to subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein continued to show an easy trend on reduced demand as against improved availability. In future section, castorseeds June contract remained untraded, while September contract opened higher and firmed up further towards closing.

Groundnut oil ruled overall steady and was nominally quoted at Rs 360 per 10 kg on subdued demand coupled with modest arrivals from the oil producing centres. Arrivals were put at around 70/80 tonnes a day.

In other oils, mowra oil and sesamum oil declined by Rs 5 each to Rs 270 and Rs 305 per 10 kg respectively on reduced industrial demand and better availability. Soya oil refined improved by Rs 2 to Rs 288 per 10 kg on better industrial offtake followed by limited arrivals. Copra oil white weakened by Rs 5 to Rs 510 per 10 kg

Imported palmolein dipped further by Rs 4 at Rs 270 per 10 kg on subdued demand.

In futures section, castorseeds September contract opened Rs 1.50 higher at Rs 1,146 and firmed up to Rs 1,147.50 a quintal. It declined to Rs 1,144.50 before closing at Rs 1,146.50 a quintal.

In oilseeds, nigerseeds Madras quality improved by Rs 25 to Rs 1,450 a quintal on improved industrial offtake coupled with limited arrivals.

Sugar: A firm trend was noticed at the wholesale sugar market. Prices of both the grades continued to firm up on better buying interest.

Sugar S-30 grade firmed to Rs 1,438/1,450 as against the previous level of Rs 1,430/1,460 a quintal on better demand and moderate arrivals. Sugar M-30 looked up at Rs 1,475/1,510 as against the previous level of Rs 1,470/1,500 a quintal on improved offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1,405/1,430 a quintal for S-30 grade and Rs 1,436/1,465 for the M-30 grade.

Non-ferrous Metals: A firm to upward trend was noticed in the local non-ferrous market yesterday. Industrial demand remained better against limited arrivals. In virgin section, copper wirebars looked up by 50 paise at Rs 137.50 a kg on improved industrial demand Tin slabs and nickel cathodes improved by Rs 2 and Re 1 to Rs 314 and Rs 365 a kg

Meanwhile, all the other metals ruled overall steady and were nominally quoted as under: aluminium ingots, Rs 77, zinc slabs, Rs 80.50 and lead ingots, Rs 41 a kg respectively on narrow movements.

In scraps section, copper wirebars firmed up by 50 paise at Rs 137.50 a kg, while copper utensils, brass utensils and brass sheetcuttings looked up by 25 paise each to Rs 77, Rs 80.50 and Rs 41 a kg respectively on improved industrial demand. Aluminium utensils ruled overall steady at Rs 60 a kg. Bullion: An easy to downward trend was witnessed in the local bullion market yesterday. Both precious metals declined on account of weak overseas advices. The undertone of the market was weak.

In yellow metals, standard gold and 22 carat gold declined further by Rs 35 and Rs 30 to Rs 4,670 and Rs 4,320 per 10 grammes respectively on continued brisk arrivals, reduced demand and dull overseas advices.

Gold biscuits prices also weakened further by Rs 500 at Rs 54,600 per piece of 10 tolas on reduced demand.

In white metals, silver.999 and .916 eased by Rs 30 each to Rs 6,810 and Rs 6,710 per kg respectively on dull offtake coupled with weak overseas advices. Delhi advices indicated a dull trend.