G'Nut Oil Untraded, Sugar Mixed, Bullion Decline

A steady-to-easy trend was noticed in edible oils yesterday on narrow trading on account of confusion prevailing on the import duty reduction on edible oils. Most of the oils, including groundnut oil, remained untraded.

There were no major trading movements at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday.

In other oils, castor oil commercial and BSS qualities improved by Rs two each to Rs 340 and Rs 352 a quintal, respectively, on improved industrial demand coupled with limited availability. Mowra oil eased by Rs five to Rs 375 per 10 kg on better supply of ready stock against modest industrial offtake. Imported palmolein remained untraded on subdued demand.

In the futures section, September '98 contract opened steady at Rs 1,446.50 and firmed up to Rs 1,447.50 a quintal.

It declined to Rs 1,446.50 before closing at Rs 1,447 a quintal.

In oilseeds, castorseeds Madras and Maharashtra qualities improved by Rs 10 each to Rs 1,536 and Rs 1,530 a quintal, respectively. Kardi seeds also firmed up by Rs 25 at Rs 1,875 a quintal.

Sugar: A mixed trend was witnessed in sugar prices yesterday. Sugar S-30 firmed up to Rs 1,475/1,485 a quintal against its previous level of Rs 1,470/1,485 on moderate movements, while sugar M-30 eased marginally to Rs 1,495/1,535 a quintal against the previous level of Rs 1,495/1,540. Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1,450/1,460 a quintal for S-30 and Rs 1,468/1,485 a quintal for M-30.

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

In the virgin section, all the other metals ruled overall steady and were nominally quoted as under: copper wirebar Rs 129.50, aluminium ingots Rs 83, zinc slabs Rs 77.50, lead ingots Rs 43.50, tin slabs Rs 372 and nickel cathodes Rs 287 a kg, respectively.

In the scraps section, all the scraps ruled totally steady and were nominally quoted as under: copper heavy scraps Rs 112, copper utensils Rs 101.50, brass utensils Rs 87.75, brass sheetcuttings Rs 91.50 and aluminium utensils Rs 64.50 a kg, respectively.

Bullion: An easy-to-dull trend was noticed in the local bullion market yesterday.

In white metals, silver .999 declined by Rs 30 at Rs 8,020 a kg, while silver .916 firmed up marginally by Rs five to Rs 7,905 a kg.

In yellow metals, both standard gold and 22-carat gold eased further by Rs 30 each to Rs 4,245 and Rs 3,925 per 10 gramme, respectively.

Gold bisucit prices weakened by Rs 300 at Rs 50,000 per piece of gold bar.