White sugar: The futures price has certain support and is strong, and the spot market is stable and weak

November 25, 2024, 5:30 PM

White sugar: The futures price has certain support and is strong, and the spot market is stable and weak

Analysis of white sugar futures:On November 25, the opening price of the SR501 contract was 5903, the highest price was 5946, the lowest price was 5898, the position was 310168, the settlement price was 5924, yesterday's settlement: 5946, down: 22, and daily trading volume: 208032 lots.

Comprehensive price list by region: RMB/ton

White sugar spot market:Today, the mainstream transaction price in China's white sugar market is stable and weak. Among them, Northeast China is 6,360 - 6,490 yuan/ton, and East China is 6,320 - 6,560 yuan/ton, Central China 6420-6450 yuan/ton, North China 6380-6460 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 6080 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, which is stable. COFCO (Tangshan) Sugar Co., Ltd. quoted 6560 yuan/ton for imported processed sugar, which is stable. COFCO (Liaoning) Sugar Co., Ltd. quoted 6490 yuan/ton for imported processed sugar, which is stable.

White sugar market outlook forecast:The fundamentals of the external market are relatively calm, lacking strong guidance, and raw sugar prices are mainly volatile. ChinaThe night price of the main contract of white sugar 2501 increased slightly and remained above 5900. The upward trend of the white price fluctuated and continued until the end of late afternoon. In terms of transactions, the opening was 21.9% higher than the opening was 15.2%. The technical level shows that the three-track opening of the Bollinger Band (13, 13, 2) opens upward. The candle chart shows a positive column, the disk has significantly reduced positions, and the two lines of the MACD line at the daily level show a golden cross trend. The expected tightening of import controls on syrup and ready-mixed flour supports Zheng sugar futures, but the fundamentals are still weak, supply pressure is high, and the price increase is limited. 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 25China's white sugar spot index was 6301.84, down 3.08, or 0.05%, and the white sugar index was slightly lowered.