May 18th Domestic Sugar Market Price Dynamics: Key Producing Regions See Slight Price Adjustments Amid Strong Wait-and-See Sentiment

On May 18th, China's domestic sugar market prices generally showed a weakening trend, with major producing regions' sugar groups slightly lowering their quotes, leading to a noticeable wait-and-see sentiment in the market. Specifically, the spot transaction price for white sugar in Guangxi was reported at 5365 yuan/ton, a decrease of 4 yuan/ton from the previous trading day. Concurrently, Guangxi sugar groups adjusted their quotation range to 5380-5490 yuan/ton, a reduction of 10-20 yuan/ton. In Yunnan, another key producing region in the southwest, sugar groups set their quotation range at 5190-5230 yuan/ton, with a more significant decrease of 20-30 yuan/ton. Furthermore, the mainstream quotation range for processing sugar mills also saw a reduction of 20 yuan/ton, now standing between 5820 and 5930 yuan/ton. Analysts point out that the overall weak and volatile trend in futures prices is directly impacting confidence in the spot market. Influenced by this, sugar groups in major producing areas have opted for slight price reductions to adapt to market changes. Market participants are generally adopting a wait-and-see approach, resulting in overall sluggish spot transaction volumes. This cautious sentiment is expected to continue to influence market trends in the short term.