Today (Feb 4), the market for sugar in China is shown as follows:

The most-active contract for sugar futures fluctuate to go down on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 6 CNY/tonne lower at 5,301 CNY/tonne with the high of 5,326 CNY/tonne and the low of 5,285 CNY/tonne; nearby March contract settles 11 CNY/tonne lower at 5,253 CNY/tonne with the high of 5,276 CNY/tonne and the low of 5,237 CNY/tonne.

Spot sugar prices stand steady today. New sugar is steadily priced at 5,240-5,300 CNY/tonne in Guangxi; in Yunnan, new sugar is priced at 5,280-5,320 CNY/tonne in Kunming and 5,230-5,250 CNY/tonne in Dali with no change from yesterday; new sugar is unchangeably offered at 5,170-5,230 CNY/tonne in Zhanjiang, Guangdong; new sugar is 20 CNY/tonne higher at 5,150-5,170 CNY/tonne in Hainan. Meanwhile, processed sugar prices are mixed. Grade I carbonized sugar is unchanged at 5,400 CNY/tonne in Fujian, 10 CNY/tonne higher at 5,330 CNY/tonne in Guangdong, flat at 5,470 CNY/tonne in Shandong, 5,370 CNY/tonne in Liaoning and 10 CNY/tonne lower at 5,360 CNY/tonne in Hebei.

Zhengzhou sugar futures fluctuate in the morning. Spot prices fluctuate narrowly. Downstream buyers are about to complete the stockpiling. It is expected that sugar market will keep range-bound in the afternoon.

(USD $1=CNY ¥6.46)