960405

Mumbai sugar

firm in

quiet trade

MUMBAI: Mumbai sugar prices closed firm on Friday with thin consumer and retail demand affecting volumes, traders said.

In the ready delivery, sugar S-30 was steady at 1,285/1,313 rupees per quintal and M-30 was unchanged at 1,305/1,340.

But mill delivery fell five rupees to 1,220/1,230 per quintal because of little demand from bulk consumers like confectioneries and soft drink makers, the traders said.

COPPER

Indian copper prices rose modestly on Friday helped by news of a recovery in world prices but there was little physical offtake, traders said.

Ready copper rose 25 rupees to 15,350 per quintal.

The traders said lower offerings by state-owned Hindustan Copper Ltd also aided the uptrend.

Other base metals were quiet in narrow price movements.

Zinc was steady at 6,450 per quintal, lead at 4,925 and aluminium at 7,600 and nicket at 39,800.

CASTORSEED

Lower than expected arrivals of new crop pushed June delivery Indian casterseed up seven rupees to 1,450/1,046 rupees per quintal on Friday, traders said.

However, the speculative buying may run out of steam because of sluggish export demand, they said.

Among edible oils, groundnut oil climbed up five rupees to 381/382 rupees per 10 kg on shortage of ready stock, restricted supplies and good seasonal demand, traders said.

Groundnut oil was up three rupees per 10 kg on Thursday.

In Rajkot, a major producing centre, spot oil rose five rupees to 620 per 15 kg.

BULLION MARKED CLOSED

Indian bullion market was closed on Friday for a public holiday. Trading resumes on Monday.

On Thursday, gold prices extended their losing streak on improved supplies. The 24-carat gold fell 17 rupees to 5,137 per 10 gramme while 22-carat shed 16 rupees to 4,729 per 10 gramme.-Reuter