White sugar: Good support is hard to find, and the two markets are expected to remain weak

August 23, 2024, 5:13 PM

White sugar: Good support is hard to find, and the two markets are expected to remain weak

Analysis of white sugar futures:On August 23, the opening price of the SR501 contract: 5575, the highest price: 5580, the lowest price: 5508, the position: 377860, the settlement price: 5543, yesterday's settlement: 5565, down: 22, and daily trading volume: 312530 lots.

Comprehensive price list by region: RMB/ton

White sugar spot market:Today, the mainstream transaction price in China's white sugar market continued to be weak, with the downward adjustment concentrated at 10-50 yuan/ton. Among them, Northeast China is 6,310 - 6,550 yuan/ton, and East China is 6,330 - 6,640 yuan/ton, Central China 6,500 - 6,590 yuan/ton, North China 6,430 - 6,500 yuan/ton, South ChinaThe region is 6300 yuan/ton, the northwest region is 6,000 -6300 yuan/ton, and the southwest region is 6,020 - 6,200 yuan/ton. White sugar company quotation:Nanhua Kunming first-class white sugar quoted 6070 yuan/ton, down 30 yuan/ton.

Nanhua Xiangyun and Dali first-grade white sugar quoted 6020 yuan/ton, down 30 yuan/ton. The price of first-grade white sugar in Yun County in Nanhua is 5980 yuan/ton, down 30 yuan/ton. Nanhua Guangxi first-grade white sugar is quoted at 6,230 - 6,330 yuan/ton, down by 30 yuan/ton. Yingmao Kunming first-grade white sugar quoted 6070 yuan/ton, down 30 yuan/ton. Yingmao Dali's first-grade white sugar price is 6020 yuan/ton, down 30 yuan/ton. COFCO (Tangshan) Sugar Co., Ltd. quoted 6320 yuan/ton for imported processed sugar, down 60 yuan/ton. COFCO (Liaoning) Sugar Co., Ltd. quoted price of imported processed sugar at 6310 yuan/ton, down 50 yuan/ton.

White sugar market outlook forecast:nationswithinThe night price of the main contract of white sugar 2501 fluctuated and weak. The white price fell first and then rose in a "V" shape, hitting the intraday low of 5508 during the period.。The technical level shows that the three-track opening of the Bollinger Band (13, 13, and 2) is narrowed, the candle chart continues to show a negative column, and the daily MACD line and KD line are dead forks continue, with an increase of 21.3% compared with an increase of 20.7%. The prices of spot sugar companies continued to decline, and market transactions were sluggish. China is expected to increase production, demand is weakening, and spot market support is limited. Overall, it is expected that China's white sugar futures prices will mainly fluctuate at low levels in the short term.

China White Sugar Index:According to calculations from medical equipment,August 23China's white sugar spot index was 6,328.61, down 21.54, or 0.34%, and the white sugar index was lowered.