Groundnut oil continued to rule weak in the absence of buying support, whereas industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm on modest demand against normal arrivals.
Groundnut oil eased further by Re 1 at Rs 337 per 10 kg on reduced demand coupled with brisk arrivals from producing centres. Heavy imports of edible oils have kept the market prices under pressure. Arrivals were put at around 120 tonnes a day.Copra oil white eased by Rs 10 to Rs 540 per 10 kg respectively on reduced industrial and consumer demand.. Imported palmolein firmed up by Re 1 at Rs 261 per 10 kg on better industrial demand. A majority of the other oils ruled steady on the whole due to narrow movements. December contract opened Rs 2 lower at Rs 1,166 a quintal. It declined to Rs 1,164 before closing at Rs 1,166 a quintal.
Castor seeds Madras and Maharashtra qualities eased by Rs 4 each to Rs 1,190 and Rs 1,184 per quintal respectively on dull demand.
Sugar: Sugar prices eased further in the wholesale sugar market. Both the grades ruled weak on sluggish demand coupled with brisk arrivals.
The market undertone was weak. S-30 declined further to Rs 1,430/1,463 against the previous level of Rs 1,435/1,565 a quintal on sluggish consumer demand coupled with brisk arrivals. M-30 declined to Rs 1,450/1,498 against the previous level of Rs 1,450/1,500 a quintal on dull offtake.
Non-ferrous metals: A steady trend was noticed in the local non-ferrous market. The demand remained dull as against modest arrivals. The market undertone was hesitant.
Brass sheet utensils firmed up by 25 paise at Rs 97 a kg on better consumer demand. Other metals were nominally quoted as stated - copper heavy scraps Rs 121, copper utensils Rs 111, brass sheetcuttings Rs 102.50 and aluminium utensils Rs 60 a kg respectively.
Nickel cathodes eased by Re 1 at Rs 322 a kg on reduced industrial demand and weak overseas advices.
Bullion:A mixed trend was noticed in the local bullion market yesterday. Silver ruled firm while goldwas steady on lack of consumer and industrial demand.
Silver .999 and .916 improved by Rs 30 each to Rs 6,805 and Rs 6,705 a kg respectively on improved industrial demand coupled with reduced arrivals and better overseas advices.
Standard gold and 22-carat ruled steady and were nominally quoted at Rs 4,400 and Rs 4,070 per 10 grams respectively on steady overseas advices, subdued demand and modest arrivals. Gold biscuit prices also ruled firm and was quoted at Rs 51,700 for a gold bar of 10 tolas.
