Groundnut Oil In A Slot, Silver, Gold Shed Sheen

A steady-to-easy trend was witnessed in groundnut oil on subdued demand coupled with moderate arrivals from the producing centers whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Imported palmolein ruled firm.

In futures section, castor seeds March'98 remained untraded while June contract opened lower but firmed up towards closing.

Groundnut oil was quoted at Rs 371 per 10 kg, while in other oils, linseed oil and rapeseed oil refined improved by Rs 5 and Rs 2 to Rs 330 and Rs 324 per 10 kg respectively.

Kardi oil declined by Rs 10 at Rs 390 per 10 kg, karanji oil and sunflower oil expeller eased by Rs 2 each to Rs 158 and Rs 353 per 10 kg respectively. Imported palmolein firmed up by Re 1 at Rs 321 per 10 kg.

In futures section, June contract opened Rs 2 lower at Rs 1,225 a quintal and improved to Rs 1,230. It declined to Rs 1,225 before closing at Rs 1,229 a quintal.

Sugar: An easy-to-weak trend witnessed in sugar prices on dull consumer offtake coupled with modest arrivals at Turbhe, Navi Mumbai yesterday.

Sugar S-30 declined to Rs 1,430/1,465 a quintal as against the previous level of Rs 1,435/1,470.

Sugar M-30 eased further to Rs 1,450/1,507 against the previous level of Rs 1,451/1,510 a quintal. Meanwhile, sugar for the check post deliveries were quoted lower at Rs 1,400/1,420 a quintal for S-30 and Rs 1,430/1,460 for M-30.

Non-ferrous metals: A steady trend was noticed in the local non-ferrous metals market yesterday. The demand remained moderate against normal arrivals.

In scraps section, all the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs 106, copper utensils Rs 93.75, brass utensils Rs 83.25, brass sheetcuttings Rs 87.25, and aluminium utensils Rs 62.00 a kg respectively on narrow movements.

In virgin metals, copper wirebars Rs 115.50 a kg, aluminium ingots Rs 82, zinc slabs Rs 70, lead ingots Rs 40, tin slabs Rs 345 and nickel cathodes Rs 310 a kg respectively on narrow movements.

Bullion: An easy-to-downward trend was noticed in the local bullion market yesterday. Both the precious metals ruled weak.

In white metals, silver .999 and .916 declined by Rs 110 and Rs 120 to Rs 8,575 and Rs 8,450 a kg respectively.

The industrial demand remained dull. In yellow metals, both- standard gold and 22-carat gold weakened by Rs 20 each to Rs 3,990 and Rs 3,690 per 10 grammes respectively. The overseas advices also indicated weak trend.

Gold biscuit prices declined by Rs 200 at Rs 46,900 per piece of gold bar.