Sugar Firms Up, Bullion Divergent, Metals Steady

A firm to upward trend continued at the sugar wholesale market at Turbhe, Navi Mumbai yesterday. Demand remained better as against limited arrivals. The undertone of the market remained weak.

Sugar S-30 grade firmed up to Rs 1310/1365 a quintal from the previous level of Rs 1315/1350. M-30 grade improved to Rs 1375/1450 a quintal from Rs 1375/1420.

Sugar for check-post deliveries was quoted low at Rs 1310/1330 per quintal for S-30 grade, while Rs 1340/1410 a quintal for M-30 grade.

Non-ferrous metals: A quiet condition was noticed in the local non-ferrous market yesterday. Industrial demand was subdued to moderate.

Trade volume remained small. Undertone of the market was weak. Metals of the both the sections ruled overall steady on narrow movements and were nominally quoted.

In the virgin section, all the metals ruled quiet. Copper wire bar was quoted at Rs 134.50, aluminium ingots at Rs 74.50, zinc slabs at Rs 78.50, lead ingots at Rs 45.50, tin slabs at Rs 310 and nickel cathodes at Rs 358, per kg respectively.

In the scraps section, all the metals ruled overall steady on narrow movements and were nominally quoted.

Copper heavy scraps were quoted at Rs 121.50, copper utensils at Rs 109, brass utensils at Rs 92, brass sheetcuttings at Rs 96 and aluminium utensils at Rs 59.50 a kg respectively. Industrial offtake remained subdued.

Bullion: A divergent trend was noticed in the local bullion market yesterday. Both the precious metals ruled in opposite directions. Silver eased while gold firmed up. The undertone of the market was shaky.

In white metals, silver .999 and .916 eased by Rs 60 each to Rs 6940 and Rs 6840 per kg respectively, on subdued industrial demand and weak overseas advices. Delhi advices also indicated weak trend.

In yellow metals, standard gold and 22 carat gold firmed up by Rs five each to Rs 4,850 and Rs 4,485 per 10 grams respectively on better demand and short-supply of ready stock and firm overseas advices.

Arrivals also remained restricted. Gold biscuits prices ruled overall steady and were nominally quoted at Rs 56,700 per piece of 10 tolas on narrow movements.

Oils and Oilseeds: The Bombay Oilseeds and Oils Exchange remained officially closed on account of Bakrid.