Domestic Sugar Group Quotes Updated: Market Caution Prevails, Trading Volume Light
On May 22nd, the domestic sugar market saw light trading due to a 'buy on rally, not on dip' sentiment. The mainstream spot price for Guangxi white sugar slightly decreased to 5321 yuan/ton, with futures showing weak volatility. Major sugar groups like Nanhua, Fengtang, Dongtang, and Xiangui lowered their quotes by 10 yuan/ton. Prices in Yunnan also saw reductions of 10-20 yuan/ton, and refined sugar prices experienced minor adjustments.
### Domestic Sugar Group Quotes Updated: Market Caution Prevails, Trading Volume Light
**Nanning, Guangxi, May 22, 2024** – The Chinese white sugar market remained subdued today, primarily influenced by a 'buy on rally, not on dip' sentiment among market participants. This led to inactive spot trading and generally light transaction volumes. The mainstream spot transaction price for white sugar in Guangxi was reported at 5321 yuan/ton, a slight decrease of 5 yuan/ton from the previous day. Concurrently, the futures market also exhibited a weak and volatile trend.
Looking at the specific quotes from major sugar groups, in the Guangxi region:
* **Guangtang Grade 1 white sugar** maintained its quote at 5400~5430 yuan/ton, with no change in price.
* **Nanhua Grade 1 sugar** adjusted its quote to 5350-5400 yuan/ton, a reduction of 10 yuan/ton.
* **Fengtang Grade 1 sugar** was quoted at 5390-5410 yuan/ton, also down by 10 yuan/ton.
* **Dongtang Grade 1 sugar**'s price range was 5380-5440 yuan/ton, a decrease of 10 yuan/ton.
* **Xianggui Grade 1 sugar** was quoted between 5340-5410 yuan/ton, down by 10 yuan/ton.
In the Yunnan region:
* **Nanhua Kunming** quoted 5200 yuan/ton, while **Xiangyun and Dali** quoted 5160 yuan/ton, both down by 10 yuan/ton.
* **Yingmao Kunming** quoted 5200 yuan/ton, and **Dali** quoted 5160 yuan/ton, with a larger reduction of 20 yuan/ton.
The refined sugar market was also affected, with mainstream quotes ranging from 5780~5930 yuan/ton, and some products seeing price reductions of 10~20 yuan/ton. Market analysts suggest that the current market lacks clear direction, with buyers generally adopting a cautious stance. It is anticipated that white sugar prices may continue to exhibit weak volatility in the short term.