White sugar: Futures prices surged high and fell back, and the spot market stabilized

November 22, 2024, 5:17 PM

White sugar: Futures prices surged high and fell back, and the spot market stabilized

Analysis of white sugar futures:On November 22, the opening price of the SR501 contract: 5960, the highest price: 5990, the lowest price: 5879, the position: 323742, the settlement price: 5946, yesterday's settlement: 5951, down: 5, daily trading volume: 335733 lots.

Comprehensive price list by region: RMB/ton

White sugar spot market:Today, the mainstream transaction price in China's white sugar market is stabilizing. Among them, Northeast China is 6,360 - 6,490 yuan/ton, and East China is 6,350 - 6,560 yuan/ton, Central China 6420-6450 yuan/ton, North China 6380-6480 yuan/ton, South ChinaThe region is 6200 yuan/ton, the northwest region is 5,650 - 6,280 yuan/ton, and the southwest region is 6,080 - 6,290 yuan/ton. Price of white sugar companies: The price of first-class white sugar in Kunming, Nanhua, is 6130 yuan/ton, which is stable. Nanhua Xiangyun and Dali first-grade white sugar quoted at 6080 yuan/ton, which is stable. The price of first-grade white sugar in Yun County in Nanhua is 6040 yuan/ton, which is stable. Nanhua Guangxi first-grade white sugar is quoted at 6070 yuan/ton, an increase of 10 yuan/ton. Yingmao Kunming first-class white sugar quoted at 6180 yuan/ton, which is stable. Yingmao Dali's first-grade white sugar price is 6080 yuan/ton, which is stable. Yingmao Dafeng first-class white sugar trader quoted 6550 yuan/ton, an increase of 30 yuan/ton. COFCO (Tangshan) Sugar Co., Ltd. quoted 6560 yuan/ton for imported processed sugar, an increase of 10 yuan/ton. COFCO (Liaoning) Sugar Co., Ltd. quoted 6490 yuan/ton for imported processed sugar, an increase of 10 yuan/ton.

White sugar market outlook forecast:On the external side, raw sugar futures closed lower on Thursday, continuing their recent weakening trend. ChinaThe night price of the main contract of white sugar 2501 was adjusted in a narrow range. The early price increased slightly, and the increase was limited, while the afternoon price fell significantly. In terms of transactions, the opening was 20.2% higher than the opening was 19.8%. The technical level shows that the upper track of the Bollinger Band (13, 13, and 2) is moving steadily, the middle and lower tracks are moving upwards, and the opening of the third track has narrowed slightly and upward. The candle chart shows a large negative column, the disk surface has been significantly reduced, and the two lines of the MACD line at the daily level show a golden cross trend. The Thai sugar incident continues to ferment and market sentiment has improved. However, the Guangxi sugar factory at the production end is about to start concentrated squeezing. The supply of new sugar is relatively abundant, limiting the upside in futures prices. Overall, it is expected that the range adjustment of white sugar futures will be mainly in the short term.

China's white sugar index:According to calculations from medical equipment,November 22China's white sugar spot index was 6304.92, up 0.38, or 0.01%, while the white sugar index rose slightly.