Precious Metals Zoom Up, Imported Palmolein Slips

RBD palmolein was down by Re 1 at Rs 217 per 10 kg. Castorseeds commercial and FSG grades moved up be a rupee each at Rs 352 and Rs 364 per 10 kg, respectively. Copra oil white also moved up by Rs 5 to Rs 370 per 10 kg. Other oils remained unchanged.

Castorseeds September contract opened at Rs 1,575 a quintal and touched an intra-day high of Rs 1,584. It then declined to Rs 1,562 before closing at Rs 1,567. December contract opened a rupee lower at Rs 1,477 and firmed up to Rs 1,477 a quintal. It, however, declined to close at Rs 1,472.

 

Castor oil international August contract was untraded. October contract held steady at Rs 362 per 10 kg.

Castorseeds improved by Rs 5 at Rs 1,610 per quintal on improved industrial demand against scarcity of ready stock. Kardiseeds were steady at Rs 1,200 a quintal.

Sugar: A firm trend prevailed on improved demand. Small-grade (S-30) climbed up to Rs 1,507/1,535 a quintal against its previous close of Rs 1,490/1,500 per quintal on reduced arrivals from upcountry centres and better demand. Medium-grade (M-30) firmed up to Rs 1,535/1,570 a quintal (Rs 1,517/1,530). Sugar for check-post deliveries were quoted lower at Rs 1,485/1,500 a quintal for S-30 and Rs 1,515/1,540 for M-30.

Non-ferrous metals: A mixed trend was witnessed. Demand was dull against normal supply position.

Nickel cathodes prices firmed by Rs 2 to Rs 526 on renewed industrial interest. Tin slabs also edged up by a rupee at Rs 376 a kg on short-supply of ready stock against better demand. Other metals held steady and were nominally quoted as under: aluminium ingots Rs 93, zinc slabs Rs 90.50, copper wire bar Rs 139.50 and lead ingots Rs 36 a kg, respectively.

In scraps, brass sheet cutting were up by 50 paise at Rs 100.75 a kg on reduced industrial demand against easy supply situation. Others were steady with copper utensils quoting at Rs 104.50, brass utensils at Rs 91.50, and aluminium utensils at Rs 72.50 a kg.

Bullion : Both the precious metals moved up yesterday. Silver .999 and .916 rose by Rs 40 and Rs 25 to Rs 8,050 and Rs 7,900 a kg, respectively, on strong overseas and industrial demand. Arrivals of imported goods were normal. Delhi advices indicated a moderate trend.

Standard gold and 22-carat prices firmed up further by Rs 20 and Rs 15 each to Rs 4,510 and Rs 4,170 per 10 gram, respectively, on firm overseas advices. Gold biscuits prices hardened too. They gained Rs 150 at Rs 52,750 per piece on better offtake.