G'Nut Oil Tag Skids Afresh; Gold, Silver Shimmer

An easy-to-dull trend continued in groundnut oil yesterday on sluggish demand coupled with improved supplies. Most of the edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Groundnut oil eased further by Rs 2 at Rs 505 per 10 kg. Arrivals were placed around 110 tonne a day.

In other oils, castor oil commercial and BSS qualities firmed up by Rs 3 each to Rs 428 and Rs 440 per 10 kg respectively. Ricebran oil and soya oil refined declined by Rs 2 and Rs 5 to Rs 228 and Rs 375 per 10 kg respectively. Copra oil white improved by Rs 10 to Rs 450 per 10 kg.

Imported palmolein declined further by Rs 3 at Rs 352 per 10 kg.

In the futures section, the September '98 contract opened Rs 4.50 higher at Rs 1,726.50, improved to Rs 1728.50, declined to Rs 1726.50 before closing at Rs 1,728.50 a quintal.

In oilseeds, castorseeds Madras and Maharashtra qualities improved further by Rs 14 each to Rs 1958 and Rs 1952 a quintal respectively.

Sugar: An easy-to-subdued trend was noticed in the wholesale sugar market yesterday.

Sugar S-30 grade ruled marginally firm at Rs 1478/1500 a quintal against its previous level of Rs 1475/1500. Sugar M-30 ruled subdued at Rs 1505/1535 a quintal against its previous level of Rs 1500/1560 on dull offtake. Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1460/1470 a quintal for the S-30 grade and Rs 1480/1495 a quintal for the M-30 grade.

Non-ferrous metals: A weak-to-steady trend was noticed in the local non-ferrous metals market yesterday.

In virgin metals, nickel cathodes and copper wirebar declined further by Rs 5 and 50 paise to Rs 260 and Rs 126 a kg respectively. Tin slabs firmed up by Rs 2 at Rs 384.

Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under :aluminium ingots Rs 85.50, zinc slabs Rs 82.00 and lead ingots Rs 45.50 a kg respectively.

In the scraps section, copper heavy scraps, copper utensils, brass utensils and brass sheetcuttings slipped further by 50 paise each to Rs 110, Rs 96, Rs 84 and Rs 87.50 a kg respectively. Aluminium utensils ruled overall steady and were nominally quoted at Rs 63 a kg.

Bullion: A firm-to-upward trend was noticed in the local bullion market yesterday.

In white metals, silver .999 and .916 improved by Rs 65 and Rs 95 to Rs 8,220 and Rs 8,110 a kg respectively.

In yellow metals, both standard gold and 22 carat gold firmed up by Rs 20 each to Rs 4215 and Rs 3900 per 10 grams respectively.

Gold biscuit prices moved up by Rs 450 at Rs 49,600 per piece of bar.