Sugar Hardens, Gold Easy, Groundnut Oil Up A Tad

A steady-to-firm trend was noticed in groundnut oil whereas other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled easy on subdued demand as against modest arrivals. In futures section, castorseeds June contract remained untraded while September contract opened lower and remained at the sane level towards closing.

Groundnut oil firmed up slightly by Re.1 at Rs.355 per 10 kg. on reduced arrivals. The demand remained moderate. Arrivals were put at around 80 tonnes a day.

In other oils, kardi oil firmed up by Rs.2 to Rs.367 per 10 kg.respectively on better demand from the industrial sectors coupled with reduced availability.

In futures section, castorseeds September contract opened Rs.3.50 lower at Rs.1145 and firmed up to Rs.1148 a quintal. It declined to Rs.1140 before closing at Rs.1145 a quintal on speculative shortcoverings.

All the oilseeds ruled steady.

Sugar: An upward trend continued at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Both the grades of sugar moved in the upward direction.The undertone of the market was firm.

Sugar S-30 grade improved further to Rs.1455/1480 as against the previous level of Rs.1452/1475 a quintal on improved demand coupled with restricted availability. Sugar M-30 improved to Rs. 1480/1508 as against the previous level of Rs.1475/1510 a quintal on improved offtake.

Sugar for check post deliveries were quoted low at Rs.1403/1445 a quintal for S-30 grade and Rs.1450/1475 for the M-30 grade.

Non-ferrous metals : An easy-to-downward trend was noticed in the local non-ferrous market yesterday. Prices of most of the metals eased on profit taking at higher levels.

In scraps section, copper heavy scraps, copper utensils, brass utensils and brass sheetcuttings eased by 25 paise each to Rs.128.25, Rs. 116.25, Rs.97 and Rs.102 a kg.respectively on improved selling pressure against good arrivals. Meanwhile, aluminium utensils ruled overall steady at Rs.60 a kg.

In virgin section, tin slabs and nickel cathodes declined further by Re. 1 and Rs.2 to Rs.305 and Rs.358 a kg.respectively on dull industrial demand and brisk arrivals. Copper wirebar eased by 25 paise to Rs.139.25 a k.

Other metals like aluminium ingots, zinc slabs and lead ingots ruled overall steady and were nominally quoted at Rs.77, Rs. 81 and Rs. 41 a kg.respectively.

Bullion : Silver improved while gold prices ruled overall steady in the local bullion market yesterday. The undertone of the market was weak.

In white metals, silver.999 and .916 improved by Rs.15 each to Rs.6740 and Rs.6640 a kg. respectively on improved industrial demand coupled with modest overseas advices.

In yellow metals, standard gold and 22 carat gold ruled overall steady and were nominally quoted at Rs.4640 and Rs. 4290 per 10 grammes respectively on subdued demand, modest arrivals and dull overseas advices. Gold biscuit prices also ruled overall steady at the previous level of Rs.54,300 per piece of 10 tolas on dull movements.