June 2, 2024 Domestic Sugar Mill Quotes: Guangxi White Sugar Prices See Slight Increase Amid Stable Market Activity
On June 2, 2024, the mainstream spot price for white sugar in Guangxi saw a slight increase to 5366 RMB/ton. Due to a slower start to summer consumption, downstream buyers and traders have reduced their stocking pace, leading to a subdued trading atmosphere and moderate spot sales. While some mills like Guangtang and Dongtang adjusted prices slightly upwards, others including Nanhua, Fengtang, Xiangui, and Yunnan mills maintained stable quotes.
On June 2, 2024, the domestic sugar market in China displayed a stable yet slightly upward trend. The mainstream spot transaction price for white sugar in Guangxi reached 5366 RMB/ton, marking a modest increase of 3 RMB/ton from the previous day. However, the overall trading sentiment remained relatively subdued. This was primarily attributed to a slower-than-anticipated start to summer consumption, which led to a noticeable slowdown in stocking by downstream end-users and traders, resulting in moderate overall spot sales.
Specifically, quotes from major sugar milling groups in Guangxi showed some variations. Guangtang's Grade 1 white sugar was quoted between 5390 and 5430 RMB/ton, with some product prices increasing by 10 RMB/ton. Dongtang's Grade 1 sugar was quoted from 5390 to 5440 RMB/ton, also seeing a 10 RMB/ton increase for certain products. Concurrently, Nanhua's Grade 1 sugar maintained its quote at 5360-5410 RMB/ton, Fengtang's Grade 1 sugar at 5410-5440 RMB/ton, and Xiangui's Grade 1 sugar at 5350-5430 RMB/ton, with all three groups keeping their prices unchanged.
In the Yunnan region, sugar producers' quotes remained stable. Nanhua's Kunming quote was 5210 RMB/ton, while Xiangyun and Dali were at 5170 RMB/ton. Yingmao's Kunming quote stood at 5220 RMB/ton, and Dali at 5180 RMB/ton, all consistent with the previous day.
For refined sugar, the mainstream quotation range held steady at 5770-5940 RMB/ton, showing no price fluctuations. Overall, the current market reflects cautious demand and limited price adjustments from the supply side, indicating that the market is awaiting a stronger activation of the consumption peak season.