This week (12.20-12.24), raw sugar hit a record high, and the fundamentals of the domestic sugar market are also very strong. Despite the fact that the local frost in the main producing area in Guangxi remains to be determined, the industry’s enthusiasm for this theme has not subsided. In addition, the State Reserve The higher than expected auction results also contributed to the increase in sugar prices during the week.
Quotes review:
On Monday, with the skyrocketing external disk, Zheng Sugar gapped higher and opened. The main contract opened at 1694 points after the 6940 point Masukura continued to challenge the high, but was dragged down by the surrounding market weakness, the period price fell, closing the warehouse receipts to close at 6886 Point, an increase of 159 points throughout the day. However, subject to the prevailing wait-and-see attitude before the release of stocks, market performance on Tuesday oscillated, Zheng sugar main contract opened in 1109 at 6916 points, the day within a narrow range of 6893-6958 points in the range, ending up slightly to 6950 points. On Wednesday, for the first time, the implementation of security measures in the State Reserve's sugar auction triggered a long-term fierce confrontation. The main contract of Zheng candy opened at 6927 points in 1109. Under the huge Masukura of more than 140,000 hands, the early period price was pushed up to 7146 points. Although the midday was still weighed down by the weakness of the surrounding commodities and finally closed at 6,991, the long position was very positive. On Thursday, the accidental auction results pushed the price to continue rising. The Zheng sugar main contract 1109 sharply jumped above the 7082 point and did not stop. It rose 176 points in days and closed at the second highest intraday high in 7167. On Friday, the positive side stimulated the external market to set a new high. The domestic sugar market continued its upward trend. Once again, the gap was opened so that the Zheng sugar main contract opened in 1109 with 7240 points. The day's short-term adjustment later increased gradually to a height of 7317. A new high, the end of the week with a strong 7308 points to draw a full stop. The gradual upward movement of several consecutive trading days allowed the Zhou K line to close a long line of positive entities suspended above the moving average system.
Spot market:
Although a large number of new sugars were listed and the State Reserves supplemented the market, thanks to the steady rise in market conditions, the spot market did not show any pressure but instead followed up the offer. The major producing areas in Guangxi had good sales during the week, and the quotation was re-stopped on the 7,000 yuan/ton mark by Friday. Yunnan sugar has not yet returned to normal supply in the producing areas, and the quotation in Kunming has risen to RMB 7,170/t. Zhanjiang, as one of the sites of the State Reserve's sugar auctions, has a heavy wait-and-see attitude throughout the week, and prices for the price of 6,930-7,000 yuan per ton have remained flat.
In terms of sales areas, linkages with production areas have generally increased prices by 100-300 yuan/ton. The traditional New Year's Day and Spring Festival stocking in various parts of the country have begun to show signs of success. However, according to merchants, due to the impact of high sugar prices, the enthusiasm for buying sugar is much weaker than in the same period of previous years. Even if the purchase and sales progress is slow, due to the fact that the state's slow delivery of sugar can not be changed, there are still traders worried that due to the blockage of sugar sources in the production areas, the shortage of sugar in the market leads to the difficulty of normal supply of remaining stocks. Take Beijing as an example. Very few quotes during the week. There is no doubt that such concerns cannot be ignored for the catalytic role of rising sugar prices.
Basics:
According to the findings of some industry insiders after investigation, the effect of local frost in Guangxi has become more serious than last week. Although the final result is still quite variable, the “first news†in sugar market is already It is unavoidable that the price of sugar is going up with the news.
If the frost is only a temporary speculation, then the good spot to the undoubtedly added a bit of confidence to the sugar price upward. As the holiday approaching, although the scale of procurement has not yet formed, but the increase in sales has become the industry's general expectations. Therefore, although the State Reserve's sugar auction and a large number of new sugar listed counterparts, but the short-term is quickly digested, and the auction eventually to 6866.65 yuan / ton of the highest average price of all transactions.
Considering the above factors, we can see that the sugar market's fundamentals continue to show favourable trend in favour of favourable colors. It is expected that next week, if the environment is not much changed, the strong price of sugar will continue. .
Quotes review:
On Monday, with the skyrocketing external disk, Zheng Sugar gapped higher and opened. The main contract opened at 1694 points after the 6940 point Masukura continued to challenge the high, but was dragged down by the surrounding market weakness, the period price fell, closing the warehouse receipts to close at 6886 Point, an increase of 159 points throughout the day. However, subject to the prevailing wait-and-see attitude before the release of stocks, market performance on Tuesday oscillated, Zheng sugar main contract opened in 1109 at 6916 points, the day within a narrow range of 6893-6958 points in the range, ending up slightly to 6950 points. On Wednesday, for the first time, the implementation of security measures in the State Reserve's sugar auction triggered a long-term fierce confrontation. The main contract of Zheng candy opened at 6927 points in 1109. Under the huge Masukura of more than 140,000 hands, the early period price was pushed up to 7146 points. Although the midday was still weighed down by the weakness of the surrounding commodities and finally closed at 6,991, the long position was very positive. On Thursday, the accidental auction results pushed the price to continue rising. The Zheng sugar main contract 1109 sharply jumped above the 7082 point and did not stop. It rose 176 points in days and closed at the second highest intraday high in 7167. On Friday, the positive side stimulated the external market to set a new high. The domestic sugar market continued its upward trend. Once again, the gap was opened so that the Zheng sugar main contract opened in 1109 with 7240 points. The day's short-term adjustment later increased gradually to a height of 7317. A new high, the end of the week with a strong 7308 points to draw a full stop. The gradual upward movement of several consecutive trading days allowed the Zhou K line to close a long line of positive entities suspended above the moving average system.
Spot market:
Although a large number of new sugars were listed and the State Reserves supplemented the market, thanks to the steady rise in market conditions, the spot market did not show any pressure but instead followed up the offer. The major producing areas in Guangxi had good sales during the week, and the quotation was re-stopped on the 7,000 yuan/ton mark by Friday. Yunnan sugar has not yet returned to normal supply in the producing areas, and the quotation in Kunming has risen to RMB 7,170/t. Zhanjiang, as one of the sites of the State Reserve's sugar auctions, has a heavy wait-and-see attitude throughout the week, and prices for the price of 6,930-7,000 yuan per ton have remained flat.
In terms of sales areas, linkages with production areas have generally increased prices by 100-300 yuan/ton. The traditional New Year's Day and Spring Festival stocking in various parts of the country have begun to show signs of success. However, according to merchants, due to the impact of high sugar prices, the enthusiasm for buying sugar is much weaker than in the same period of previous years. Even if the purchase and sales progress is slow, due to the fact that the state's slow delivery of sugar can not be changed, there are still traders worried that due to the blockage of sugar sources in the production areas, the shortage of sugar in the market leads to the difficulty of normal supply of remaining stocks. Take Beijing as an example. Very few quotes during the week. There is no doubt that such concerns cannot be ignored for the catalytic role of rising sugar prices.
Basics:
According to the findings of some industry insiders after investigation, the effect of local frost in Guangxi has become more serious than last week. Although the final result is still quite variable, the “first news†in sugar market is already It is unavoidable that the price of sugar is going up with the news.
If the frost is only a temporary speculation, then the good spot to the undoubtedly added a bit of confidence to the sugar price upward. As the holiday approaching, although the scale of procurement has not yet formed, but the increase in sales has become the industry's general expectations. Therefore, although the State Reserve's sugar auction and a large number of new sugar listed counterparts, but the short-term is quickly digested, and the auction eventually to 6866.65 yuan / ton of the highest average price of all transactions.
Considering the above factors, we can see that the sugar market's fundamentals continue to show favourable trend in favour of favourable colors. It is expected that next week, if the environment is not much changed, the strong price of sugar will continue. .
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