Groundnut oil held overall steady on much improved level. The festive demand was good against less availability of ready stock. Most of the edible oils ruled easy to subdued at the wholesale oils and oilseeds market yesterday. Imported palmolein ruled easy. Groundnut oil was quoted at Rs 605 per 10 kg on narrow movements. The arrivals from the producing centres remained almost nil.
Castor oil commercial and BSS firmed up by Rs 2 each to Rs 490 and Rs 502, respectively on acute shortage of ready materials against better industrial demand. Linseed oil and kardi oil declined by Rs 5 each to Rs 445 and Rs 625 per 10 kg, respectively on dull industrial offtake against better availability of ready stock. Mowra oil and ricebran oil improved by Rs 5 and Rs 7 to Rs 350 and Rs 242 on improved industrial demand. Imported palmolein eased by Rs 3 at Rs 372 on easy supplies. In the futures market, September'98 contract remained untraded. December contract opened lower by Rs 19 at Rs 1,840 a quintal and ruled steady at the same level. Later, It declined to close at Rs 1,829 a quintal on speculative movements. .
Sugar: A quiet trend was noticed in at the wholesale sugar market. Both the grades of sugar ruled steady without any major changes in prices. Sugar S-30 ruled overall steady and quoted nominally at Rs 1,421/1,470 per quintal on narrow movements. Sugar M-30 also ruled quiet and was quoted at Rs 1,460/1,525 a quintal on moderate offtake. Sugar for the check-post deliveries were quoted lower at Rs 1,420/1,430 a quintal for S-30 grade and Rs 1,445/1,465 a quintal for M-30 grade. Non-ferrous Metals : Steady to easy conditions prevailed at the non-ferrous metals market yesterday. Most of the metals ruled steady. The undertone remained weak.
In virgin metals, tin slabs and nickel cathodes declined by Rs 5 and Rs 2 to Rs 375 and Rs 251 a kg, respectively on sluggish industrial demand coupled with scattered arrivals. All other metals ruled overall steady and were quoted as under : copper wirebar Rs 120.50, aluminium ingots Rs 85.50, zinc slabs Rs 79.00 and lead ingots Rs 45.00, kg respectively on narrow movements.
In the scraps section, all metals ruled steady and were quoted as under : copper heavy scraps Rs 106.50, copper utensils Rs 92.75, brass utensils Rs 81.25, brass sheetcuttings Rs 85.25 and aluminium utensils Rs 63.00 per kg on narrow movements. Bullion : A weak trend was noticed in the local bullion market yesterday.
In white metals, silver .999 and .916 declined by Rs 185 and Rs 170 to Rs 7, 375 and Rs 7,270 kg, respectively on weak overseas advices. Both standard gold and 22 carat gold weakened by Rs 100 and Rs 95 to Rs 4050 and Rs 3745 per 10 grams, respectively on dull overseas advices. Gold bisucit prices lost Rs 1,000 at Rs 47,500 per piece of bar.
