752 words / 3.5 minute reading time

  • 截至3月底全国工业库存与去年持平,但糖厂的剩余新增供应量将同比大幅减少。
  • 疫情影响下游需求较弱,加上加工糖的竞争,产区现货成交清淡。
  • 疫情未见拐点意味着宏观环境仍不乐观。

市场要闻

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国内白糖期现货行情  

  • 南华集团广西一级糖平均报价为5609/吨,报价持稳,现货升水略有回落至258/吨。
  • 目前广西现货销售情况不佳,云南在降价销售策略和高速公路免费的政策下销售表现较好,但5月起高速恢复收费,此后销售情况仍取决于下游需求的恢复。
  • 11号原糖周一结算价为10.17美分,维持低位震荡。
  • 郑糖9月合约周一结算价为5351/吨,上周走势有所回升;5/9价差达105元,远月价格较低是因为市场对522日后进口糖成本下降的预期。  
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国内供需情况分析  

  • 截至3月底全国工业库存基本与去年持平; 
  • 目前全国大部分产区已经收榨,仅剩下云南仍在生产,预估剩余产量在30-40万吨,去年4月和5月供应量约86万吨。 
  • 加工糖方面,山东、辽宁、江苏和广东的加工厂均有开机,周供应量约5万吨。今年许可和配额发放量基本与去年持平。 
  • 走私糖方面,目前走私利润预估约200美元/吨,且因高速免费运输至中部的利润有所上升,但疫情防控措施下走私预估仍维持低量。  
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Rosa Li

Rosa graduated from Jinan University in 2012 with a bachelor’s degree in Marketing. Rosa joined CZ in 2014 and has been an analyst for 7 years in our Guangzhou office managing the data capture, analysis and visualisation within the Chinese sugar markets utilising her skills in SQL, Python and VBA while also providing content for our platform CZ App. Rosa is also responsible for the localization of CZ App in China – CZ App WeChat, she also assists with the commercial marketing in China and works towards strategy with the trading team.

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