Bullion Rises; Sugar, Vegoils Remain Steady

Mumbai, September 29: | Updated: Sep 30 2002, 05:30am hrs
Before the starting of the festive season which is likely to bring in demand, the inauspicious days during the last one week saw steady demand for most commodities. However demand for bullion in the domestic market grew, but that of non-ferrous metals was steady. Agri-commodities await the arrival of the kharif crop in the mandis.

BULLION: Domestic bullion prices continued to rise steadily during the week. on Monday, gold opened at Rs 5,290 per 10 gms levels and rose to Rs 5,325 per 10 gm level at the end of the week. Silver opened at Rs 7,985 per 10 kg on Monday and continued to be steady at the same level at the weekend.

In the international market, the easing of US-Iraq tension saw a decline in bullion prices.

At the beginning of the week gold opened on at $323 per troy oz, and slid to $319 per troy oz level. Silver too slid after opening at $ 4.63 per oz on Monday slid to close at $4.51 per oz level on Friday.

OILS, OILSEEDS: During the week the prices of most vegoils were steady due to low demand from the domestic market. However, in the overseas market prices of both the soy oil and palm were rising.

Crude palm oil was steady during the week and was quoting at around Rs 310 per 10 kgs levels during the week. Soyabean oil at Rs 340 per 10 kg levels , Groundnut oil too was steady at Rs 430-432 per 10 kg level during the weekend.

COTTON: Rains in the northern region leading to a delay in arrivals in most northern varieties of cotton led to a fall in demand. Bengal Deshi shed to Rs 3,824 per quintal and J 34 to Rs 3,965 per quintal levels.

However the prices of other varieties were steady in the market, H4-MP was at Rs 4,780 per quintal, MCU- 5 at Rs 6046 per quintal levels, and LRA at Rs 4,330 per quintal level at the end of the week. Sankar-6 too was steady and was quoting at Rs 5,062 per quintal.

SUGAR: Demand for sugar was steady during the week thus keeping the prices steady as well. Last week, M-30 was at Rs 1410- 1420 per quintal levels, S-30 from Rs 1,353-1,355 per quintal level.

METALS: During the last week movement of prices of domestic non-ferrous metals and that on the LME remained steady.

In the domestic non ferrous market, Copper wire bar were steady at Rs 121 per kg level, Aluminium was at Rs 92 per kg, Lead too remained steady at Rs 37-38 per kg, and Tin was at Rs 285 per kg level.

On LME, copper was at $ 1462 per tn, aluminium was quoted at $1291 per tn, and lead at $412 per tn.

Tin saw a a slight downward movement falling from $4110 per tn level to $4095 per tn level.