White sugar: The futures price rose to a seven-month high, but the upward momentum restricted the rise and fell back, and the spot market stabilized.

November 27, 2024, 5:19 PM

White sugar: The futures price rose to a seven-month high, but the upward momentum restricted the rise and fell back, and the spot market stabilized.

Analysis of white sugar futures:On November 27, the opening price of the SR501 contract was 5989, the highest price was 6038, the lowest price was 5943, the position was 290756, the settlement price was 5986, yesterday's settlement: 5940, up: 46, and daily trading volume: 429959 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, 6,360 - 6,520 yuan/ton in Northeast China and 6,320 - 6,560 yuan in East China/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 quoted at 6110 yuan/ton, an increase of 20 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 price of imported processed sugar at 6590 yuan/ton, an increase of 10 yuan/ton. COFCO (Liaoning) Sugar Co., Ltd. quoted 6520 yuan/ton for imported processed sugar, an increase of 10 yuan/ton.

White sugar market outlook forecast:On the external side, raw sugar futures rose 1.99% on Tuesday, settling at 21.57 cents/pound. ChinaThe night price of the main contract of white sugar 2501 rose, rising to a seven-month high before withdrawing some of the gains. The early trading price began to weaken, and then the range adjustment extended to the end of late trading. In terms of transactions, the opening was 22.5% higher than the opening was 20.2%. The technical level shows that the upper track trend of the Bollinger Band (13, 13, 2) has turned stable, and the opening of the third track has narrowed slightly. The candle chart shows a negative column, 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, futures prices have limited increase, spot market sugar prices have been adjusted cautiously, and downstream procurement has waited and seen new sugar still exists. Overall, white sugar futures are expected to fluctuate mainly in a narrow range in the short term.

China's white sugar index:According to calculations from medical equipment,November 27China's white sugar spot index was 6302.22, up 0.38, or 0.01%, and the white sugar index increased slightly.