Sugar Mixed, Groundnut Oil Steady, Bullion Firm

A steady trend continued in groundnut oil whereas other industrial oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein also ruled easy on dull demand. In futures section, Castorseeds June'97 contract opened lower, and ruled steady at the same level towards closing. September contract remained untraded yesterday.

Groundnut oil ruled overall steady at Rs 355 per 10 kg. on subdued demand coupled with modest arrivals. Arrivals were put at around 100 tonnes a day.

In other oils, copra oil white and linseed oil declined further by Rs 5 and Rs 2 to Rs 535 and Rs 288 per 10 kg.respectively followed by improved arrivals. Cottonseed oil washed and refined qualities eased further by Rs 2 and Re.1 to Rs 280 and Rs 285 per 10 kg.respectively

Imported palmolein eased further by Re.1 to Rs 279 per 10 kg.on subdued demand.

In futures, castorseeds June'97 contract opened Rs 3 lower at Rs 1083 a quintal, and remained steady at the same level through out the trading session.

In oilseeds, nigerseeds Madras declined by Rs 25 to Rs 1425 a quintal on improved industrial offtake and subdued arrivals. Sugar: A mixed trend was witnessed at the wholesale sugar market at Turbhe, Navi Mumbai yesterday. Sugar of both the grades showed an upward trend. The undertone of the market was firm.

Sugar S-30 grade was quoted at Rs 1390/1455 as against the previous level of Rs1420/1430 a quintal

Sugar M-30 grade improved to Rs 1460/1496 from the previous level of 1455/1490 a quintal on better offtake. Sugar for the check post deliveries were quoted easy at Rs 1397/1422 a quintal for S-30 grade and Rs 1440/1460 for the M-30 grade.

Non-ferrous metals: A firm trend was noticed in the local non-ferrous market yesterday. In virgin section, quiet conditions were noticed. All the metals ruled overall steady and were nominally quoted as under : copper wirebars Rs 136, aluminium ingots Rs 76, zinc slabs Rs 79.50, lead ingots Rs 41.50, tin slabs Rs 312 and nickel cathodes Rs 369 a kg.respectively. In scraps section, an overall steady condition was noticed, and metal prices were nominally quoted as under : copper heavy scraps Rs 122.75, copper utensils Rs 110.75, brass utensils Rs 94, brass sheetcuttings Rs 98.50 and aluminium utensils Rs 59.50 a kg.respectively

Bullion : Silver ruled steady while gold witnessed a slightly firm trend in the local bullion market yesterday. The undertone of the market was not firm.

In yellow metals, standard gold firmed up by Rs 5 to Rs 4770 per 10 grammes on moderate demand while 22 carat gold ruled overall steady at Rs 4410 per 10 grammes on narrow movements. Gold biscuit prices also firmed up by Rs 100 to Rs 55,800 per piece of 10 toals on reduced demand.

In white metals, silver.999 and .916 ruled overall steady, and were nominally quoted at Rs 6875 and Rs 6775 a kg respectively on subdued industrial demand.