White sugar: Pressure on imported sugar supply appears, and the two markets remain weak

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August 20, 2024, 5:13 PM

White sugar: Pressure on imported sugar supply appears, and the two markets remain weak

Analysis of white sugar futures:On August 20, the opening price of the SR501 contract: 5661, the highest price: 5671, the lowest price: 5620, the position: 322381, the settlement price: 5647, yesterday's settlement: 5667, down: 20, daily trading volume: 223423 lots.

Comprehensive price list by region: RMB/ton

White sugar spot market:The mainstream transaction prices in the domestic white sugar market generally lowered today. Among them, 6,420 - 6,650 yuan/ton in Northeast China and 6,440 - 6,650 yuan in East China/ton, Central China 6550-6680 yuan/ton, North China 6480-6540 yuan/ton, South ChinaThe region is 6320 yuan/ton, the northwest region is 6,000 - 6,160 yuan/ton, and the southwest region is 6,110 - 6,240 yuan/ton. White sugar company quotation:

Nanhua Kunming first-class white sugar quoted 6150 yuan/ton, down 20 yuan/ton. Nanhua Xiangyun and Dali first-grade white sugar quoted 6100 yuan/ton, down 20 yuan/ton. The price of first-grade white sugar in Nanhua Yun County is 6070 yuan/ton, down 20 yuan/ton. Nanhua Guangxi first-grade white sugar is quoted at 6,300 - 6,400 yuan/ton, down 20 yuan/ton. Yingmao Kunming first-grade white sugar quoted 6150 yuan/ton, down 20 yuan/ton. Yingmao Dali's first-grade white sugar price is 6100 yuan/ton, down 20 yuan/ton. COFCO (Tangshan) Sugar Co., Ltd. quoted 6420 yuan/ton for imported processed sugar, which is stable. COFCO (Liaoning) Sugar Co., Ltd. quoted price of imported processed sugar at 6420 yuan/ton, down 10 yuan/ton.

White sugar market outlook forecast:nationswithinThe night price of the main contract of white sugar 2501 was mainly volatile, the early price was weak and downward, and the afternoon price fell first and then rose, showing a "V" shape。The technical level shows that the three-track opening of the Bollinger Band (13, 13, and 2) continues to downward, the candle chart shows a negative column, and the daily MACD line and the KD line continue to have dead forks, with an increase of 22.1% compared with an increase of 22.8%. The prices of sugar companies in the spot market have generally been lowered. Coupled with the increase in sugar imports in July, the year-on-month increase was large year-on-year, and the expected supply of imported sugar was implemented. In addition, there are also expectations for increased production in the new crop season, and the pressure on the top is heavier. Overall, it is expected that domestic white sugar futures prices or low levels will mainly fluctuate in the short term.

Domestic white sugar index:According to calculations from medical equipment,August 20The domestic white sugar spot index was 6,370.29, down 16.92, or 0.26%, and the white sugar index was lowered.